SHANGHAI, Feb 27 (SMM) - Last Friday, rebar futures lost 0.87% and closed at 4,224 yuan/mt.
According to SMM research, the average operating rate of EAF mills rose 4.67 percentage points to 44.32% last week. Short-term profits of BF mills grew, but the steel mills still ramped up the production cautiously. The growth rate of total construction steel is slower than that in previous years. On the demand side, the surge in steel prices in the first half of the week boosted the market sentiment. In the second half of the week, steel prices crashed, and the terminal and speculative demand decreased. The total demand continued to pick up week-on-week, but the growth rate began to shrink.
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