Economics

Shanghai Steel Futures Slump to Record Low as Demand Falters

Industrial output figures show weak economic growth persisting
Steel mills fail to pare overcapacity amid supply glut

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By Bloomberg News

November 12, 2015 at 4:47 AM UTC

Updated on

November 12, 2015 at 8:00 AM UTC

This article is for subscribers only.

Steel futures in Shanghai slumped to a record low as demand falters due to slowing economic growth in the world’s largest producer.

Steel reinforcement-bar for May delivery on the Shanghai Futures Exchange fell by 0.7 percent to close at 1,765 yuan ($277) a metric ton Thursday, the lowest close on the most-active contract since trading began in 2009.