【SMM Rebar Daily Review】Frequent News of Production Restrictions, Can the Spot Cargo Rally Continue?

Today, the futures market for rebar experienced a volatile upward trend, closing at 3,220 points, with an increase of 1.29%. In the spot market, prices across various regions continued to show slight increases, although market caution has heightened, and trading volume did not keep up with yesterday's levels. On the supply side, according to an SMM survey, the impact from maintenance on building materials this week was 1.1858 million mt, down 43,200 mt WoW. The market is continuously receiving news about production restrictions, with Shandong region potentially reducing annual production by 10%. Additionally, a few steel mills in north-west China are planning to upgrade their production lines, which is expected to reduce building material production by 20% in April. The specifics of the production restrictions still need verification. After consecutive price increases, high-level trading has been relatively sluggish, and it is expected that building material prices will remain stable tomorrow.