24
Jun
12:52
Chinese rebar loses $50 on-week
China's rebar market suffered an avalanche last week, with most steel mills opting to slash production, Kallanish notes.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 4,030-4,340/tonne ($602-603/t), down CNY 335/t on-week. The October rebar contract on the Shanghai Futures Exchange closed at CNY 4,189/t, down by CNY 46/t compared with Thursday and down CNY 165/t from the previous Friday.
The violent decline in …
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Anonymous
Very good overview of the weekly steel market.
Anonymous