12
Jan
09:28
Chinese rebar turns downward with weaker raw materials
Construction steel prices in eastern China weakened last week, while Chinese steel mills expanded production cuts amid inventory pressure.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,850-3,870/tonne ($537-540/t), down CNY 50/t on-week, Kallanish assesses. The May 2024 rebar contract on the Shanghai Futures Exchange closed at CNY 3,902/t, down CNY 24/t compared with Thursday and CNY 77/t lower from the previous Friday.
As raw mater…
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Anonymous
Very good overview of the weekly steel market.
Anonymous