Light Transctions Weigh on Spot Rebar Prices

SHANGHAI, Feb 16 (SMM) - Rebar futures fluctuated at a high level yesterday, and the spot prices followed up slightly. But the downstream is sensitive to price increase, and the light transactions of high-priced goods weighed on the upward trend of spot prices.

On the supply side, according to SMM research, the operating rates of electric arc furnaces rose 12.15 percentage points weak-on-weak but dipped 19.95 percentage points year-on-year to 39.65%. BF steel mills produced stably and the rebar output continued to rebound. On the demand side, downstream enterprises gradually resumed work, but the terminal demand was average due to the decrease in projects and the increasing closing projects.