China steel futures dip on global weak demand, rainy season uncertainties
Shanghai rebar, HRC futures fall in early trade
Iron ore futures retreat from two straight sessions of gains
Spot iron ore prices jump to $106 per tonne
BEIJING, June 9 (Reuters) – China’s steel rebar and hot-rolled coil futures fell on Tuesday, dampened by sluggish overseas markets and uncertainties over demand during the upcoming rainy season.
China’s steel products exports plunged 30% month-on-month in May to 4.4 million tonnes, data from the General Administration of Customs showed on
“In line with expectations, weak global demand fed through to lower exports of Chinese steel,” commodities brokerage Jefferies wrote in a note. Chinese producers and traders have also been unable to shift excess inventories to global markets due to the coronavirus crisis, it said.
Post time: Jun-16-2020