Rebar Futures Add 0.12% on Feb 22 amid the Weaker Demand

SHANGHAI, Feb 23 (SMM) - Rebar futures prices added 0.12% yesterday.

On the supply side, according to SMM statistics, the average operating rate of blast furnaces was 92.27% this week, up 0.15 percentage point WoW; the average capacity utilisation rate stood at 93.12%, up 0.07 percentage point. The daily average pig iron output of sample steel mills was 2.23 million mt, up 0.16 percentage point. The total output of construction steel continued to rise this week. On the demand side, the futures prices fluctuated, and the market held a wait-and-see sentiment. Speculative demand decreased rapidly, and terminal companies purchased normally. The overall demand was significantly weaker than the previous trading day.