【SMM Rebar Daily Review】Inventory Continued to Decline, Spot Prices Relatively Stable with Weak Trend

Rebar futures experienced significant fluctuations today, closing down at 3,208 points, a decrease of 0.19%. In the spot market, influenced by the substantial volatility in the futures market, spot prices in some markets showed slight loosening, with weak trading throughout the day. From the perspective of industrial fundamentals, national rebar production at steel mills increased slightly this week, with apparent demand rising. In-plant inventory and social inventory continued to decline. The total rebar inventory this week was 7.6427 million mt, down 171,900 mt WoW, a decrease of 2.2% MoM and a 29.2% YoY decline on a lunar calendar basis. On the demand side, downstream end-users were affected by a low rate of capital availability, resulting in a recovery in demand strength that fell short of market expectations. The overall market sentiment remained cautious, and it is expected that building material prices will remain stable with a slight downward trend tomorrow.