Steel futures dive further on inventory gains
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Update time : 2023-08-04 16:53:46
Steel market inventories have risen this week because of the impact of Typhoon Doksuri on demand, resulting in Chinese rebar and hot rolled coil futures diving further on Thursday, Kallanish notes. On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 50/tonne lower than Wednesday at CNY 3,751/t ($522/t), and the same contract for HRC lost CNY 46/t to CNY 3,984/t. Due to the devastating Ty…
