Shanghai Futures Exchange steel contracts closed lower on Thursday.
The most-active rebar futures for January 2027 finished the day session at 3,059.00 yuan (about 458.24 U.S. dollars) per tonne, down 0.68 percent from the previous settlement.
The hot-rolled coil futures for January 2027 settled at 3,218.00 yuan (about 482.06 U.S. dollars) per tonne, down 0.92 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
The Saudi-led coalition in Yemen said on Thursday that it had intercepted and destroyed multiple drones launched toward Saudi Arabia.
Coalition spokesman Turki Al-Maliki said on the social media platform X on Thursday afternoon that the forces intercepted and destroyed four drones over Riyadh and Medina and another over Riyadh in separate incidents.
Earlier in the day, the coalition said its forces had destroyed four drones launched toward the Eastern Province.
Meanwhile, Yemen's Houthi group said it had launched four missile and drone attacks against Saudi Arabia over the past 48 hours.
In a televised statement aired by the Houthi-run al-Masirah TV, Houthi military spokesman Yahya Sarea said the attacks targeted the Saudi Defense Ministry in Riyadh, King Fahd International Airport in Dammam, a facility belonging to Saudi oil giant Aramco in Yanbu, and Abha International Airport in the southwestern city of Abha.
All targets were "directly hit," causing air traffic disruption and a fire at the oil facility, Sarea claimed.
In a separate development, the Houthis claimed that Saudi Arabia struck an Indian yacht near Yemen's Zuqar Island in the southern Red Sea, alleging 14 Indian nationals were aboard.
Sarea said Houthi forces were carrying out a rescue operation and would provide further details later.
There was no immediate comment from Saudi Arabia.
Zuqar Island lies north of the strategic Bab al-Mandab Strait, one of the world's key maritime shipping routes.
The developments came amid intensified fighting in Yemen, with the Saudi-backed government forces trying to reverse Houthi territorial gains. The Houthis have also continued missile and drone attacks against Saudi Arabia.
Saudi-led coalition says intercepted drones as Houthis claim new attacks on Saudi Arabia
