Chinese steel futures close higher Monday

Shanghai Futures Exchange steel contracts closed higher on Monday.

The most-active rebar futures for January 2027 finished the day session at 3,090.00 yuan (about 461.74 U.S. dollars) per tonne, up 0.32 percent from the previous settlement.

The hot-rolled coil futures for January 2027 settled at 3,255.00 yuan (about 486.39 U.S. dollars) per tonne, up 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 higher Monday

The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 2.51 percent lower at 1,683.3 points on Monday.

The STAR 50 Index, which tracks the 50 largest stocks listed on the board that also meet certain liquidity requirements, closed 2.1 percent lower at 1,426.72 points.

The sci-tech innovation board, commonly known as the STAR Market, was inaugurated in June 2019 at Shanghai Stock Exchange. It is designed to support companies in the high-tech and strategic emerging sectors.

China's STAR Composite Index closes lower Monday