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01 Dec

Iron ore hits new high despite rebar downturn

Iron ore prices have continued to surge, breaking a new record since December 2013. Steel prices however have been undermined by weaker demand, Kallanish notes. On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 14/tonne lower than Monday at CNY 3,892/t ($591/t), while the same contract for hot rolled coil closed up CNY 3/t at CNY 4,178/t. In Tangshan, billet prices dipped CNY 20/t to CNY 3,590/t. The Kallanish KORE 62% Fe index gained an…
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