[SMM Rebar Daily Review] Macro Sentiment Disrupts Market Sentiment, Market Caution Continues to Increase

Published: Mar 3, 2025 17:23

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[SMM Rebar Daily Review: Macro Sentiment Disrupts Market Sentiment, Market Caution Continues to Increase] Today, rebar futures fluctuated downward, closing at 3,296, down 0.66% from the previous trading day. Spot side, morning spot prices remained stable across regions, while in the afternoon, influenced by the weakening futures market, prices in certain markets slightly softened, dropping by 10 yuan/mt, with overall transactions remaining sluggish.

Today, rebar futures fluctuated downward, closing at 3,296 yuan, down 0.66% from the previous trading day. On the spot side, morning spot prices remained stable across regions, but weakened slightly in the afternoon due to the decline in the futures market, with prices in some markets dropping by 10 yuan/mt. Overall transactions were relatively weak. Fundamentally, on the supply side, blast furnace steel mills maintained stable production, while the operating rate of EAF steel mills continued to rise, leading to a slight increase in supply. Demand side, with warmer weather, the northern market is expected to resume work and production, and end-use demand is anticipated to recover to some extent. Overall, both supply and demand are increasing, market imbalances are not prominent, and futures mainly follow macro sentiment fluctuations. In the short term, steel prices are expected to maintain sideways movement, with further attention needed on macro policy guidance during the Two Sessions.

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