20
Nov
10:40
Chinese rebar breaks CNY 1,700/t as futures dip
Chinese steel prices continued to fall on Friday, with rebar futures closing at a new record low below CNY 1,700/tonne ($267/t) while HRC faired only a little better. Credit agency Fitch says capacity will peak next year. This is perhaps so, but oversupply will continue far longer, Kallanish notes.
Although futures have fallen faster than spot market prices, physical prices have also headed down rapidly, especially longs. 20mm HRB400 rebar in Shanghai was tradin…
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Anonymous
Very good overview of the weekly steel market.
Anonymous