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Pre-holiday stockpiling to underpin rebar prices 
Jun 22,2020 16:12CST
SMM Comments
Spot prices of rebar will face downward pressure to recover this week as supply still firms at high levels and end-users demand has yet to shake off the impact of seasonality, which continues to weigh on market sentiment and deter shipments. Nonetheless, the spot prices will be underpinned on optimism that the recent outbreak of COVID-19 cases in Beijing is under control with a decline in confirmed cases in the city and on expectations of stepped-up purchases ahead of the three-day Dragon Boat Festival holiday. 
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