07
Dec
16:47
Steel futures soar higher despite tepid demand
Chinese steel prices continue to be pushed higher by strong raw materials prices and bullish global markets, despite weaker domestic demand. Traders are concerned, however, that raw materials are pushing the value of their inventory higher when demand is weaker, only to drag it lower once demand returns to its peak, Kallanish notes.
On the Shanghai Futures Exchange the May rebar contract became the most traded on Monday. It closed at CNY 3,912/tonne ($599/t), up C…
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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