01
Nov
13:23
Chinese steel price surge continues on HRC tightness
Chinese steel futures continued their rally on Tuesday, driven by a tight flats market. Analysts remain divided however on how firm demand can remain over the winter, Kallanish notes.
The January rebar contract on the Shanghai Futures Exchange closed up CNY 31/tonne at CNY 2,613/t ($386/t) but was again outshone by hot rolled coil, which gained CNY 105/t to CNY 3,035/t.
Finished steel inventories have continued to decline, with MySteel’s measure down an…
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Anonymous
Very good overview of the weekly steel market.
Anonymous