11
May
11:47
Chinese rebar falls despite Shagang hike
Chinese rebar prices fell last week despite a rebound in futures prices on Friday. The spot market was also cool to a price hike by Shagang, Kallanish notes.
In Shanghai on Friday afternoon20mm HRB400 rebar was trading at CNY 3,945-3,975/tonne ($620-624/t), down CNY 70/t from a week earlier. On the Shanghai Futures Exchange the October rebar contract closed CNY 60/t higher than Thursday and CNY 11/t higher week-on-week at CNY 3,675/t.
A weaker futures market …
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Anonymous
Very good overview of the weekly steel market.
Anonymous