SMM Rebar Daily: Steady Quotes Amid Weak Winter Stockpiling Willingness

[SMM Rebar Daily Review: Steel Mills in Certain Regions Stand Firm on Quotes, Will Winter Stockpiling of Rebar Go as Planned?]

Today, rebar futures continued slight fluctuations, closing at 3,364 yuan, up 0.27%. In the spot market, morning quotes in some regions saw slight increases but remained generally stable. In the afternoon, the futures market showed an upward trend, with slight improvement in transactions. Today, steel mills in Southwest China made joint efforts to refrain from price cuts, raising regional market quotes by 10-70 yuan, but transactions were extremely difficult after the price hike.

In terms of supply, the impact from maintenance continued to increase this period, but overall supply pressure remained relatively small. On the demand side, construction site demand showed little improvement, and market attention shifted to winter stockpiling. According to surveys, the willingness for winter stockpiling this year is generally weak, with many traders even planning to maintain zero inventory through the winter. Looking ahead, inventories in various regions are bottoming out, while demand remains sluggish, leaving steel prices in a dilemma.