China’s steel futures edged higher on Friday, but were on course for their second weekly drop amid signs that steel output in the world’s top producer will remain high. Prices of steelmaking raw materials rose, with iron ore hitting a one-week peak and coking coal and coke also gaining. The most actively traded rebar on the Shanghai Futures Exchange was up 0.9 percent at 3,975 yuan ($572) a ton, as of 0239 GMT, having touched a 3-1/2-month low of 3,878 yuan on Thursday. However, the construction steel product has fallen nearly 2 percent for the week so far. “China’s steel production may not show any signs of ... (full story)