29
Mar
11:23
Steel futures slide as Dongbei Special defaults
Chinese steel futures prices lost ground on Tuesday despite continuing firmness in physical markets. Northern China’s Dongbei Special Steel meanwhile is unable to make bond payments and is likely to default, Kallanish notes.
The October rebar contract on the Shanghai Futures Exchange closed down CNY 24/tonne on Tuesday at CNY 2,159/t ($332/t), while the May hot rolled coil contract closed down CNY 29/t at CNY 2,376/t.
Dongbei Special Steel chairman Yang…
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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