26
Mar
10:44
Steel futures slump as short-sellers become active
Chinese rebar and hot rolled coil futures slumped further on Tuesday as short-sellers became much more active on falling demand, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2024 rebar contract closed at CNY 3,499/tonne ($485/t) on Tuesday, down CNY 86/t on the prior trading day. The same contract for HRC lost CNY 71/t to CNY 3,735/t.
Concern is growing among some market participants that…
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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