SMM Rebar Daily: Positive Macro Signals Boost Futures, Potential Growth Despite Off-Season

Publicado: Nov 19, 2024 17:51
[SMM Rebar Daily Review: Macro Meeting Releases Positive Signals Again, Is There Still Room for Growth in the Off-Season?] Rebar futures fluctuated and strengthened today, closing at 3,322 points, up 1.84%. A major macro meeting was held today, and the futures market accelerated its rise in the afternoon. Market quotations were continuously adjusted upwards, and overall transactions increased simultaneously. Fundamentals side, supply side, according to the SMM survey, the impact of maintenance on construction materials this week was 1.3228 million mt, up 150,000 mt WoW, indicating that supply-side pressure continued to ease. Demand side, although it is the off-season and the space for demand growth is limited, market sentiment improved with the introduction of multiple stimulus policies. Additionally, with the current overall market inventory being relatively low, there is still an opportunity for prices to rise. It is expected that steel prices may increase again in the short term.

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[SMM Rebar Daily Review: Macro Meeting Releases Positive Signals Again - Shanghai Metals Market (SMM)