11
Jun
11:23
Shagang cuts prices as market slides
Chinese rebar prices were sliding again last week as summer brought slower buying levels. Shagang, after hiking list prices at the start of the month, accepted the weak market with a sharp cut to prices for mid-June, Kallanish notes.
In Shanghai on Friday afternoon 20mm HRB400 rebar was trading at CNY 3,530-3,560/tonne ($519-524/t), down CNY 100/t from a week earlier. On the Shanghai Futures Exchange the October rebar contract closed up CNY 45/t at CNY 3,017/t. …
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Anonymous
Very good overview of the weekly steel market.
Anonymous