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17 Nov

Steel, iron ore jump as investigations tighten supply

Chinese steel futures and seaborne iron ore prices both jumped on Tuesday amid strong demand. Investigations into some steel products in eastern China have further tightened the market and supported prices. On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 67/tonne higher than Monday at CNY 3,919/t ($596/t), while the same contract for hot rolled coil closed up CNY 55/t at CNY 4,053/t. In Tangshan, billet prices increased CNY 20/t to CNY …
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