Pre-holiday Restocking Nears End; Rebar to Consolidate in Short Term

Published: Sep 23, 2026 16:53 (GMT+8)

Save

Futures consolidated lower today, closing at 3,113, down 0.26% from the previous trading day. In the spot market, quotes showed mixed performance in some regions, with fluctuations of 10-20 yuan/mt throughout the day, and market transactions were weak.
Fundamentals side, supply side, blast furnace steel mills continued to incur losses, with most maintaining their previous under-capacity production pace. EAF steel mills saw reduced difficulty in scrap procurement recently, with moderate per-ton margins. In east China, most EAF steel mills achieved per-ton margins above 50 yuan/mt, keeping production enthusiasm at a high level. According to an SMM survey, the operating rate of 50 EAF steel mills nationwide that mainly produce construction steel stood at 36.80%, up 1.24% WoW. Demand side, with futures declining and pre-holiday restocking nearing its end, market trading activity declined, high-priced resources faced weak acceptance, and shipments remained weak throughout the day. Overall, construction steel fundamentals currently lack clear drivers, and rebar prices are expected to consolidate in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 mins ago

Molybdenum Brief News

Domestic steel‑mill ferromolybdenum tender prices, Sep 21‑23: - Sep 23: A steel mill in Hunan awarded ferromolybdenum at **CNY 342 000/ton (acceptance, delivered‑to‑plant)**, volume 90 tonnes. - Sep 22: A steel mill in Zhejiang tendered ferromolybdenum at **CNY 340 500/ton (acceptance)**, volume 210 tonnes. - Sep 21: A steel mill in Shanxi tendered ferromolybdenum at **CNY 341 000/ton (acceptance)**. Nanjing Iron & Steel has launched its ferromolybdenum tender. Volume: 90 tonnes. Tender closing time: 09:30, Sep 28. Delivery date: Oct 20. Results pending.

19 mins ago

28 mins ago

[SMM Steel]

[Rebar] Today, rebar export quotations at Tianjin Port remained stable, though a few mills slightly loosened their offers, with overall transaction prices ranging from USD 481-486/ton. According to exporters, market inquiries were mediocre today. As earlier restocking demand had already been released, transactions were moderate today.

28 mins ago

[SMM Steel]

[Sheets & Plates] Ahead of the holiday, domestic sellers mostly kept export prices stable. Today, export prices for hot-rolled coils and other sheets & plates remained flat WoW, with HRC transaction prices concentrated in the $494-497/mt range. Market inquiries were moderate, while actual transactions were slightly weaker.

28 mins ago