Rebar Futures Fluctuate at High Level amid Strong Demand

SHANGHAI, Feb 10 (SMM) - Rebar futures fluctuated at a high level today and the domestic prices rose slightly.

On the supply side, in February, BF steel mills planned to increase their production, with daily output increasing 12.6%. Steel mills were less active in production amid the breakeven point, hence the output increase was less than previous years. On the demand side, the downstream enterprises were active in purchasing goods amid the bullish outlook. But the actual demand still needs to be released. On the whole, it is expected that the price of rebar may fluctuate within a narrow range in the short term.