SHANGHAI, Apr 19 (SMM) – Rebar futures prices closed up 1.1% at 3,950 yuan/mt yesterday. Operating rates of EAF-based steel mills continued to decline slightly amid persistent losses. Blast furnace-based steel mills switched to production of more profitable steel products. Thus, rebar supply decreased slightly. Spot rebar prices inched higher, and end users restocked only as needed. Speculative activity has cooled down.
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