SMM Rebar Daily: Macro Vacuum Leads to Price Volatility Despite Weak Transactions

[SMM Rebar Daily Review: Macro Enters Vacuum Period, Steel Prices Struggle to Move Up or Down]

Today, rebar futures fluctuated slightly, closing at 3,362, down 0.44%. In the spot market, traders stood firm on quotes in the morning, but some slightly lowered prices in the afternoon, with overall transactions remaining weak.

In terms of supply, environmental protection inspections combined with routine winter maintenance kept steel mill construction material production at relatively low levels, resulting in relatively small supply pressure. On the demand side, most projects in northern China have been halted, while a few in south China still have some rush-to-meet-deadlines demand. In the short term, construction material inventory may continue to decline. Currently, traders show low enthusiasm for winter stockpiling, leaving steel mills to rely mainly on self-storage.

In the short term, fundamental imbalances are not apparent, and the macro perspective lacks momentum, suggesting steel prices may maintain a fluctuating trend.