China's ferrous futures surged in the early hours of morning trading on Monday February 26 on news of more steel production cuts in Tangshan, though the contracts - especially those for iron ore and coking coal - corrected before the end of the session.
Futures closing prices - morning session Shanghai Futures Exchange May rebar: 4,013 yuan ($633) per tonne, up 1 yuan per tonne May hot-rolled coil: 4,055 yuan per tonne, up 7 yuan per tonne Dalian Commodity Exchange May iron ore: 547.50 yuan per tonne, down 5 yuan per tonne May coking coal: 1,414 yuan per tonne, down 9.50 yuan per tonne May coke: 2,273 yuan per tonne, up 1 yuan per tonneRaw materials China imported 5.06 million tonnes of coking coal in January, down 15.5% on the year, according to Chinese customs data released last Saturday.The country also exported...