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30 Nov

Iron ore hits new high but rebar slides

Seaborne iron ore prices continued to increase, topping $130/tonne for the first time since the start of 2014. Hot rolled coil prices have also remained firm, but rebar futures have turned downwards as demand declines. On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 18/tonne lower than Friday at CNY 3,906/t ($594/t), while the same contract for hot rolled coil closed up CNY 24/t at CNY 4,175/t. In Tangshan, billet prices regained CNY 20…
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