06
May
16:46
Steel futures soar amid speculation
Chinese steel futures prices soared on Thursday on the return from the Labour Day holiday. Markets were swirling with rumours, some triggered by a dispute with Australia, but inventory data showed some weakness for hot rolled coil, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 274/tonne higher than before the holiday at CNY 5,665/t ($873/t), while the same contract for HRC closed up CNY 247/t at CNY 5,935/t. In Tangshan, b…
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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