13
Nov
11:15
Chinese rebar strong as Shagang hikes
Chinese rebar prices are leading the charge of higher steel prices, with major mills lifting list prices to catch up with the market. Traders report high trading activity and very low inventories, with product from some suppliers out of stock, Kallanish notes.
In Shanghai, 20mm HRB400 was trading at CNY 2,900-2,950/tonne ($426-433/t), up CNY 270/t week-on-week. On the Shanghai Futures Exchange January rebar close dup CNY 105/t at CNY 3,126/t ($459).
Shagang i…
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Anonymous
Very good overview of the weekly steel market.
Anonymous