Tag: Chinese domestic steel prices rise on supportive SHFE futures

PBOC cuts RRR by 50 basis points Steel inventories at CISA mills continue upward trend in mid-Jan’24 Chinese steel prices experienced a w-o-w increase, driven by hike in Shanghai Futures Exchange (SHFE) futures. The market sentiments got boosted after The People’s Bank of China said it will cut the reserve requirement ratio (RRR) by 50…