SMM Steel Morning Meeting: Futures Plunge, Winter Stockpiling's Impact on Quotes in Question

[SMM Steel Morning Meeting Summary: Futures Accelerate Decline, Can Winter Stockpiling Support Firm Quotes Effectively?]

Yesterday, rebar futures accelerated their decline, closing at 3,312, down 1.55%. On the spot side, most regions maintained stable quotes in the morning, observing the market. In the afternoon, the futures market plunged, but as it was close to closing time, traders showed limited follow-through in lowering prices. With weak futures, the market remained cautious, and overall transactions weakened further compared to the previous day. Cost side, both iron ore and coke prices declined to varying degrees, with drops exceeding those of finished steel, weakening the cost support for construction steel.