01
Jun
16:40
Shagang rebar hike defies slumping futures
Chinese steel futures prices slumped yet again on Thursday as speculators factored in their weakening expectations. Shagang hiked its rebar prices for early June however as the spot market has remained firm on weak supply, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed at CNY 3,092/tonne ($453/t), down another CNY 89/t, while the same contract for hot rolled coil closed down CNY 80/t at CNY 3,021/t.
Despite falli…
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Anonymous
Very good overview of the weekly steel market.
Anonymous