Chinese steel futures close higher Wednesday

Shanghai Futures Exchange steel contracts closed higher Wednesday.

The most-active rebar futures for January 2027 finished the day session at 3,126.00 yuan (about 465.77 U.S. dollars) per tonne, up 0.74 percent from the previous settlement.

The hot-rolled coil futures for January 2027 settled at 3,323.00 yuan (about 495.12 U.S. dollars) per tonne, up 0.36 percent.

Rebar is mainly used in construction for buildings, bridges and infrastructure. Hot-rolled coil is a flat steel product widely used across the manufacturing sector, including in automobiles, home appliances, machinery and pipes.

Both contracts are among the most actively traded steel futures in the world and serve as key price references for the Chinese and global steel markets.

China Media Group (CMG) has completed the recording of its annual Mid-Autumn Festival Gala in Huainan, a city in east China's Anhui province, showcasing traditional Chinese cultural charm powered entirely by clean energy.

Set along the banks of the Huaihe River and deeply rooted in the region's rich cultural heritage, the gala is designed to deliver an audiovisual feast featuring classical Chinese romanticism. It is scheduled to air nationwide on the night of the Mid-Autumn Festival, which falls on Friday, Sept 26.

The main stage, located in the lake area of Huainan People's Park, blended rippling water and moonlight to create a serene and beautiful atmosphere.

Organizers adopted a customized "one program, one lighting design" approach, seamlessly integrating lighting with artistic performance to accentuate the gala's vibe.

The entire production was powered completely by clean, green energy.

"We keep a close eye on how much electricity the equipment was using second by second, and patrolled more than 30 spots around the set to ensure that the power supply stays steady and reliable," said Shi Lei, deputy director of the digital smart distribution network department at State Grid Huainan Power Supply Company.

The Mid-Autumn Festival is a traditional Chinese holiday celebrated on the 15th day of the eighth month in the Chinese lunar calendar. Around China, people celebrate the day by gathering for moon-gazing, eating mooncakes, and lighting colorful lanterns.