Rebar and HRC Transactions are Light

SHANGHAI, Feb 14 (SMM) - The rebar futures fluctuated and declined slightly yesterday. The market lowered the quotations to stimulate transactions.

On the supply side, the capacity utilisation rate has gradually increased. However, due to the losses, EAF steel mills were wait-and-see. Overall, the output of steel mills across the country will further pick up this week. On the demand side, the downstream enterprises were wait-and-see amid the falling prices. Coupled with weak speculative demand, the overall transactions were light.

HRC futures fell sharply yesterday by 1.42%. In terms of the spot market, due to the weak futures market, the transactions in the spot market weakened again. As such, terminal enterprises were wait-and-see and the market transactions were generally weak.

From the perspective of the demand side, the terminal demand was acceptable, but the transactions were light due to the wide fluctuations in futures prices.