12
Sep
10:43
Steel slumps again as inventory rise outpaces sentiment
Chinese steel futures prices slumped again on Monday after the weekend saw falling billet prices and fading market sentiment. With futures prices now below spot prices, traders which restocked in recent days may be caught out, Kallanish notes.
The January rebar contract on the Shanghai Futures Exchange closed down another CNY 47/tonne at CNY 2,277/t ($341/t), while the same contract for hot rolled coil closed down CNY 43/t at CNY 2,542/t.
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Anonymous
Very good overview of the weekly steel market.
Anonymous