Shanghai steel futures rose to their highest level in 3 and half months on Monday as the Chinese returned from a week long Lunar New Year break, boosting expectations that Chinese steel market will look up now.

The most-traded May rebar contract on the Shanghai Futures Exchange rose 0.3 percent to CNY 4,337 a tonne by 0313 GMT, off an early high of CNY 4,347, its loftiest since Oct 13th 2011.

(Sourced from Reuters)