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25 Nov

Steel wavers but iron ore presses higher

Chinese steel prices wavered on Wednesday, while iron ore gained more ground. Prices have remained volatile as optimism has clashed with weaker end-user demand this week, Kallanish notes. On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 45/tonne lower than Tuesday at CNY 3,865/t ($588/t), while the same contract for hot rolled coil closed down CNY 10/t at CNY 4,032/t. In Tangshan, billet prices slipped another CNY 10/t to CNY 3,570/t. T…
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