21
Oct
15:29
Steel futures slump as Shagang cuts prices
Chinese steel futures prices slipped on Monday as sentiment remained weak. Eastern Chinese mills meanwhile confirmed the trend by cutting their ex-works offers, Kallanish notes.
On the Shanghai Futures Exchange the January 2020 rebar contract closed at CNY 3,290/tonne ($465/t), CNY 20/t lower than Friday, while the same contract for hot rolled coil closed down CNY 15/t at CNY 3,285/t.
The fall in futures prices came as major eastern Chinese steel mi…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous