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11 Nov

Steel, iron ore gain on market confidence

Chinese steel futures prices resumed their increase on Wednesday as demand and confidence remained strong. Iron ore prices followed despite expectations of a weaker end to the year. On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 17/tonne higher than Tuesday at CNY 3,843/t ($581/t), while the same contract for hot rolled coil closed up CNY 15/t at CNY 3,948/t. In Tangshan, billet prices held steady at CNY 3,580/t. The Kallanish KORE 62…
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