15
May
10:50
Steel futures rebound despite strong production
Chinese rebar and hot rolled coil futures rebounded on Monday as expectations for macro stimulus policies grew after the weak April. Steel production meanwhile hiked again after a slight decrease in April, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 88/tonne higher than Friday at CNY 3,667/t ($527/t), and the same contract for HRC gained CNY 90/t to CNY 3,732/t.
As macro data such a…
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Anonymous
Very good overview of the weekly steel market.
Anonymous