Chinese steel futures close lower Thursday

Shanghai Futures Exchange steel contracts closed lower on Thursday.

The most-active rebar futures for January 2027 finished the day session at 3,122.00 yuan (about 465.53 U.S. dollars) per tonne, down 0.13 percent from the previous settlement.

The hot-rolled coil futures for January 2027 settled at 3,317.00 yuan (about 494.60 U.S. dollars) per tonne, down 0.12 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.

Chinese steel futures close lower Thursday

Chinese steel futures close lower Thursday

Two adorable red panda cubs shared tender moments as they were snuggling up to each other at the Chengdu Research Base of Giant Panda Breeding in southwest China's Sichuan Province.

The footage, filmed at the Hill Red Panda Nursery House of the research base, shows the two cubs snuggle tightly together, with one gently leaning against the other's back.

The Chengdu Research Base of Giant Panda Breeding is a world-renowned institution dedicated to the ex-situ conservation, scientific breeding, public education, and educational tourism of giant pandas. As a model project for panda conservation, it is famous for its work in protecting and breeding endangered species unique to China, including giant pandas and red pandas.

Footage of adorable red panda cubs released