Posts Tagged ‘Dalian Commodity Exchange’

Chinese Steel Futures Swing to Losses on Week Demand

Monday, July 25th, 2016

Chinese steel futures swung to losses after a moderate gain on Monday (July 25) as cooling demand in flood-hit regions outweighed output cuts in a key industrial region.

Spot steel prices in some northern regions fell after the floods interrupted transportation and sales as well as hit demand, despite a mandated output cut in Tangshan, a key steel producing area, traders said.

“The positive news is a bigger output cut, particularly for coking plants, in Tangshan, but demand has also been hit by floods in some regions. The market could be volatile this week,” said Yu Yang, an analyst with Shenyin & Wanguo Futures in Shanghai.

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