Rebar Futures Prices Fall on Weak Demand

Published: Mar 1, 2023 11:45

Source: SMM

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Rebar futures prices fluctuated with occasional falls yesterday and lost 0.64% throughout the day.

SHANGHAI, Mar 1 (SMM) - Rebar futures prices fluctuated with occasional falls yesterday and lost 0.64% throughout the day. On the supply side, in the past two days, prices of iron ore and coke have fallen more than finished product prices, driving the steel mills' profit margins and their production enthusiasm. Output loss caused by BF mill maintenance dipped 45,700 mt to 407,800 mt. In terms of EAF mills, the fall in steel scrap prices in some regions eased the raw material shortage, which pushed up the operating rates. The overall construction steel output is growing rapidly. On the demand side, infrastructure projects in various places have started as planned, and the terminal rigid demand was acceptable. Intraday futures and spot prices fell. The speculation demand decreased, and the overall demand was average.

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