08
Dec
13:25
Induction furnace crackdown strengthens Chinese steel prices
Chinese steel futures were strong again on Thursday, although they did not manage to replicate the sharp increases of earlier in the week. Traders reported slower buying after a spike on Wednesday but the potential positive impact of eliminating induction furnace production continued to lift sentiment for longs and the outlook for 2017, Kallanish notes.
The May rebar contract on the Shanghai Futures Exchange closed up CNY 57/tonne at CNY 3,394/t ($493/t), while …
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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