Chinese steel prices hold as output increases

Chinese steel futures and seaborne iron ore prices held firm on Friday despite a bleak market. An increase in crude steel output in early January suggests steel oversupply is not going away, Kallanish notes. The May 2015 rebar contract on the Shanghai Futures Exchange closed up Yuan 15/tonne on Friday at Yuan 2,510/t ($410/t) while the same contract for hot rolled coil closed up Yuan …

To read this article and all other news, please subscribe to Kallanish Steel by clicking here