Chinese steel futures close higher Friday

Shanghai Futures Exchange steel contracts closed higher on Friday.

The most-active rebar futures for January 2027 finished the day session at 3,038.00 yuan (about 454.21 U.S. dollars) per tonne, up 0.26 percent from the previous settlement.

The hot-rolled coil futures for January 2027 settled at 3,195.00 yuan (about 477.69 U.S. dollars) per tonne, up 0.28 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 remains the most important market for Italian luxury brand Bulgari, according the company's CEO, who says the firm is cooperating closely with Chinese artists to create designs that appeal not just to local consumers but also resonate on a global level.

Bulgari is one of the thousands of exhibitors attending the ninth China International Import Expo (CIIE), which opened in Shanghai on Thursday. The six-day event has attracted over 4,100 exhibitors from around the world, including more than 300 Fortune Global 500 companies and industry leaders, making it the biggest ever edition of the CIIE.

Speaking at the Bulgari booth, CEO Laura Burdese stated the continued importance of the Chinese market to the company, which is now making its seventh appearance at the annual CIIE event.

"China is and will always remain not only the country which is the most dear to us, but also our most important country. And we always design pieces in every and each category that are mainly designed not specifically for Chinese but through the Chinese lenses with collaboration with Chinese artists, or let's say taking into consideration the Chinese culture and sensibility," Burdese told the China Global Television Network (CGTN).

Burdese also stressed that as a global brand, Bulgari always embraces cultural exchanges and openness, and hopes its products can entice consumers beyond their target markets and be well received worldwide.

"We are a global brand and we don't put limits on borders. We love to open things and we truly believe that the beauty really nourishes in cultural exchanges globally. So why not, there are of course Chinese that [may] see [our products] and live in other countries of the world that might be interested, but also other countries and other cultures. Why not, I think that together more than ever, the world should not have borders. So what we create in China is not meant only to be sold here, but really open to a wider target audience," she said.