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06 Sep
10:30

Inventory slide pushes up Chinese steel futures

Chinese steel futures gained on Thursday, wiping out most of the losses of recent days. A fall in rebar inventories helped shore up confidence, but prices remain below the peak reached in late August, Kallanish notes. On the Shanghai Futures Exchange the January 2019 rebar contract closed at CNY 4,148/tonne ($606/t), CNY 55/t higher than Wednesday, while the same contract for hot rolled coil closed up CNY 46/t at CNY 4,140/t. Steel futures were boos…
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