15
Mar
11:35
Chinese rebar collapses, mills cut production
China's construction steel market plunged more rapidly last week, forcing mills to plan production cuts to avoid greater losses.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,380-3,400/tonne ($469-472/t), down CNY 195/t from last Friday, Kallanish assesses. The May 2024 rebar contract on the Shanghai Futures Exchange closed at CNY 3,490/t on Friday, down by CNY 16/t compared with Thursday and CNY 201/t lower from a week before.
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Anonymous
Very good overview of the weekly steel market.
Anonymous