04
Aug
08:56
Steel futures inch down against lower inventory
Lower weekly inventory data has cheered Chinese steel markets to a certain extent, but rebar and hot rolled coil futures settled lower on Thursday as resistance was encountered after two weeks of gains, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 83/t lower than Wednesday at CNY 3,980/t ($589/t), and the same contract for HRC closed down CNY 63/t at CNY 3,957/t.
Rebar production increase…
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Anonymous
Very good overview of the weekly steel market.
Anonymous