Rebar Futures Add 2.09% on Feb 16

Published: Feb 17, 2023 09:57

Source: SMM

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Rebar futures prices soared by 2.09% yesterday.

SHANGHAI, Feb 17 (SMM) - Rebar futures prices soared by 2.09% yesterday. On the supply side, the profits of BF mills hovered around the break-even point, thus the BF mills maintained their operation and did not ramp up production. EAF mills resumed operation as scheduled post CNY, and the output of construction steel grows rapidly. On the demand side, futures prices boomed in the past two days, greatly pushing up speculative demand. And the market was highly active. Terminal companies have resumed work one after another and became more willing to purchase low-priced sources. The overall demand has shown a recovery trend.

Futures Market

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