01
Dec
08:33
Steel futures stabilise as inventory decline narrows
Beijing released some Covid policy easing signals on Wednesday night, but this was offset by narrowing steel inventory declines. Chinese rebar and hot rolled coil futures thus just stabilised on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2023 rebar contract closed just CNY 4/tonne lower than Wednesday at CNY 3,752/t ($531/t), while the same contract for HRC gained CNY 11/t to CNY 3,873/t.
Overall fini…
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Anonymous
Very good overview of the weekly steel market.
Anonymous