Inventory pressure eased slightly this week as production fell, partly pushing volatile Chinese rebar and hot rolled coil futures higher. But the market still does not see a clear short-term trend, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 107/tonne higher than Wednesday at CNY 4,235/t ($671/t), and the same contract for HRC closed up CNY 90/t at CNY 4,285/t.
Rebar inventories turned d…
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