11
Jan
10:38
Shagang slashes prices to spark restocking
Chinese long product mills in eastern China slashed prices again on Thursday in an attempt to entice traders to restock. Nationwide, the picture was steadier however with futures barely down and some restocking taking place, Kallanish notes.
On the Shanghai Futures Exchange the May rebar contract closed at CNY 3,838/tonne ($588/t), CNY 11/t lower than Wednesday, while the same contract for hot rolled coil closed down CNY 6/t at CNY 3,874/t. In Tangshan…
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Anonymous
Very good overview of the weekly steel market.
Anonymous