12
Nov
14:44
Steel fluctuates but inventory drawdown sustained
Chinese steel futures have continued to fluctuate. Demand remains strong enough to draw down inventory levels, but the winter slowdown is still to come and traders are keen to close deals before prices fall, Kallanish notes.
On the Shanghai Futures Exchange, the January 2021 rebar contract closed CNY 11/tonne lower than Wednesday at CNY 3,832/t ($580/t), while the same contract for hot-rolled coil closed down CNY 24/t at CNY 3,924/t. In Tangshan, billet prices wer…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous