18
Aug
13:04
Steel futures close higher but destocking slows
After the prior day’s slump, bulls struck on Thursday and pushed up Chinese rebar and hot rolled coil futures. But the growth was limited as heat is spreading across more than a dozen provinces, including most major steel-consuming areas, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed at CNY 4,041/tonne ($595/t), up CNY 48/t on Wednesday. The same contract for HRC closed up CNY 11/t at CNY 3,916/t.
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Anonymous
Very good overview of the weekly steel market.
Anonymous