Rebar Futures Plunge, Hitting Price Limit Down Amid Disappointing Macroeconomic Outlooks

Publicado: Oct 17, 2024 17:38
[SMM Daily Review of Rebar Futures: Macroeconomic Outlook Falls Short of Expectations, Rare Price Limit Down for Rebar Futures] Rebar futures plunged sharply, triggering a price limit down by the close, with the session ending at 3300, down 5.01%. Disappointment over macroeconomic expectations, coupled with the price limit down, drove market sentiment to its lowest point, resulting in a general decline in construction material prices across regions and weak market transactions. On the supply side, although steel mill profits were squeezed, production enthusiasm was not significantly impacted, with the impact of production cuts on construction materials diminishing this week and supply in the market rebounding. On the demand side, the market's expectations of macroeconomic policy benefits failed to materialize as anticipated, casting doubts on the growth of demand. Looking ahead, steel mill production will continue to recover, but with limited upside potential for demand, there may be risks of inventory accumulation for construction materials. Additionally, due to the disappointment in macroeconomic outlooks, steel prices are expected to fluctuate and weaken.

Declaración de Fuente de Datos: Excepto la información disponible públicamente, todos los demás datos son procesados por SMM basándose en información pública, comunicación de mercado y confiando en el modelo de base de datos interna de SMM. Son solo para referencia y no constituyen recomendaciones para la toma de decisiones.

Para cualquier consulta o para obtener más información, por favor contacte: lemonzhao@smm.cn
Para más información sobre cómo acceder a nuestros informes de investigación, contacte con:service.en@smm.cn