Rebar Future Prices Rebound after Falling

Published: Mar 10, 2023 15:10

Source: SMM

Save

The rebar futures prices fell in the early trading period yesterday but then rebounded stimulated by the unexpected favourable data in the afternoon.

SHANGHAI, Mar 10 (SMM) - The rebar futures prices fell in the early trading period yesterday but then rebounded stimulated by the unexpected favourable data in the afternoon.

This week, the destocking speed of in-plant inventory and social inventory has accelerated. Among them, the rebar inventory has decreased 4.6% from last week, and the HRC inventory has decreased 1.7% from last week. Overall market was good yesterday and the transactions were active amid strong demand from infrastructure projects.

Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

MMi Daily Iron Ore Report (September 2)

Iron ore futures traded softer today. The DCE most-active contract I2701 settled at RMB 714.0/mt, down 1.11% from the previous trading day.

7 hours ago

Magnesium Prices Rise for Three Consecutive Sessions! Cost Side Remains "Burning Hot" While Demand Side Struggles to Take Over [SMM Commentary]

7 hours ago

8 hours ago

[ Canada to Impose 50% Retaliatory Tariff on US Steel ]

The Canadian government announced a 50% retaliatory tariff on United States exports of steel and aluminum, scheduled to take effect on September 8, 2026. The aggressive trade measure directly responds to the recent collapse of bilateral metal trade negotiations and the implementation of US tariffs. The cross-border penalties threaten to heavily disrupt integrated North American steel supply chains ahead of the fast-approaching deadline.

8 hours ago