25
Jan
09:29
Production restriction rumours lift steel futures further
As market attention is still focused on planned production restrictions in February and during the first quarter, rumours on Tuesday of stricter measures caused Chinese rebar and hot rolled futures to rise again, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 57/tonne higher than Monday at CNY 4,722/t ($746/t), and the same contract for HRC closed up CNY 71/t at CNY 4,844/t.
Rumours abounded on Tuesday that Heb…
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Anonymous
Very good overview of the weekly steel market.
Anonymous