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    HomeNewsWorldShanghai steel rebar hits record for fifth day

    Shanghai steel rebar hits record for fifth day

    Shanghai steel futures jumped to a record for a fifth day running on Friday, buoyed by soaring raw material costs and expectations of a pickup in demand.

    February 11, 2011 / 08:32 IST

    Shanghai steel futures jumped to a record for a fifth day running on Friday, buoyed by soaring raw material costs and expectations of a pickup in demand.


    The most active reinforcing bar, or rebar, contract for October delivery on the Shanghai Futures Exchange was up 0.2% at 5,199 yuan per tonne by 0105 GMT, after touching a peak of 5,210 yuan earlier.

    Index-based iron ore prices surged to record highs on Thursday due to tight supplies and a resumption in Chinese buying after the week-long Lunar New Year holiday.

    first published: Feb 11, 2011 08:08 am

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