Rebar Futures Remain High amid Improving Demand

SHANGHAI, Feb 22 (SMM) - The rebar futures fluctuated at a high level yesterday, with an increase of 2.09% throughout the day.

On the supply side, according to SMM statistics, the operating rates of domestic EAF steel mills continued to rise this week amid rising spot prices. At the same time, the tight supply of steel scrap in some areas has eased slightly, causing some steel mills to increase the production. As such, the total output of rebar continued to rise this week. On the demand side, the strong market drove up the spot prices. The speculative demand was strong and terminal demand improved.