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[SMM Weekly Select] the spot price of rebar is still suppressed by supply in the short term.
Apr 11,2020 10:49CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

"SMM Iron and Steel Industry chain Weekly report", the weekly report SMM will select one of the hot topics, prices, market or major changes in the industry chain information published for your reference.

During the Qingming Festival holiday period, macro positive frequently, such as U. S. stocks into a technical bull market, crude oil price war reached the first stage agreement, resulting in this week snail has been boosted all the way up, spot is following the positive rise in prices to the warehouse, trading volume is better than last week, benefiting from the terminal has recovered well, trading volume is more stable, and mentality, in the demand has recovered better areas to East China. South and southwest China, represented by some traders, remain cautious.

The current prices both rebounded sharply during the current hot period. Mainly due to the central bank targeted reduction, foreign macro release of positive news and crude oil production reduction agreement reached and other positive stimulus, this week the black disk continued to pull up, leading to a marked recovery in market sentiment, terminal procurement demand has also been released, thus driving the spot price to continue to strengthen.

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