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18 Nov

Steel settles as winter deepens

Chinese steel futures prices corrected down slightly on Wednesday. Although end-user demand is firm, traders are preparing for weaker demand through the winter, Kallanish notes. On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 12/tonne lower than Tuesday at CNY 3,907/t ($595/t), while the same contract for hot rolled coil closed down CNY 6/t at CNY 4,047/t. In Tangshan, billet prices gained another CNY 20/t to CNY 3,600/t, the highest si…
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