03
Nov
15:17
Stumbling rebar prices push Shagang to close line
Although Chinese spot and futures steel prices increased again on Thursday, rebar continued to be much weaker than hot rolled coil. Despite the increase, rebar prices are close to or below costs, as Shagang demonstrated by idling a rebar mill for half a month, Kallanish notes.
The January rebar contract on the Shanghai Futures Exchange managed finally to close up an impressive CNY 62/tonne at CNY 2,691/t ($398/t) on Thursday despite falling at the start of tradi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous