[SMM Iron and Steel Morning Meeting Minutes: Futures Rebar plunges bef

Published: Apr 7, 2024 07:40

Save

[SMM Iron and Steel Morning Meeting Minutes: Futures Rebar plunges before the holiday, is the steel price rebound over?] Last Friday, the futures rebar fluctuated upward, closing at 3628, an increase of 0.95% compared to the previous trading day. The market sentiment improved, and the spot market prices followed the upward trend. Speculation and preference for futures and spot transactions were evident. However, the increase in prices may have suppressed terminal demand to some extent, with only average transaction volume for essential needs. On the supply side, the recent correction in rebar prices, coupled with the implementation of the eighth round of coke price reductions, has improved the profit margins of long-process steel mills, boosting market sentiment and potentially accelerating the resumption of blast furnace production in the future.

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

48 mins ago

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

48 mins ago

1 hour 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.

1 hour ago

[ Bharat Coking Coal Output Grows 2.8% in August ]

Bharat Coking Coal Limited (BCCL) announced that its coking coal production increased by 2.8% year-on-year to 2.18 million tonnes in August 2026. Despite a sharp 65.9% drop in non-coking coal output, the core metallurgical segment drove total raw coal production to 2.21 million tonnes for the month. Opencast mining operations were the primary contributors to this volume, generating 2.19 million tonnes of the total yield.

1 hour ago