25
May
16:32
Chinese steel prices slide as confidence weakens further
Chinese steel futures prices slipped again on Thursday as traders were already preparing for lower prices in June. Moody’s decision to downgrade China’s credit rating however has had very little impact, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed at CNY 3,219/tonne ($467/t), down another CNY 39/t, while the same contract for hot rolled coil closed down just CNY 2/t at CNY 3,133/t.
Despite some analyst t…
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Anonymous
Very good overview of the weekly steel market.
Anonymous