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24 Nov

Steel, iron ore firm despite winter’s approach

Chinese rebar futures closed almost level from Tuesday but hot rolled coil futures and seaborne iron ore prices both made up ground lost on Monday. Although poor weather has hampered demand, some traders remain positive, Kallanish notes. On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 1/tonne lower than Monday at CNY 3,910/t ($594/t), while the same contract for hot rolled coil closed up CNY 31/t at CNY 4,042/t. In Tangshan, billet pric…
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