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Home / Metal News / 【SMM Rebar Daily Review】Tug-of-War Between Sellers and Buyers Remains Stalemated, Construction Steel Prices Trapped in a Cycle of Change
【SMM Rebar Daily Review】Tug-of-War Between Sellers and Buyers Remains Stalemated, Construction Steel Prices Trapped in a Cycle of Change
Apr 18, 2025 17:29Source:SMM
SMM Rebar Daily Review: Tug-of-War Between Sellers and Buyers Remains Stalemated, Construction Steel Prices Stuck in Fluctuations. Today, futures fluctuated downward, closing at 3,076, down 0.81% from the previous trading day. Spot cargo, market sentiment remained cautious, overall prices were in the doldrums, with some regions reporting slight drops of 10-20 yuan/mt.
Futures fluctuated downward today, closing at 3,076, down 0.81% from the previous trading day. Spot side, market sentiment was cautious, with overall prices in the doldrums, and some regions saw spot prices drop slightly by 10-20 yuan/mt.
Fundamentally, supply side, profits at BF and EAF steel mills continued to shrink, with limited enthusiasm for active production increases. Most maintained previous production levels, while some east China mills continued to sell billets or switch to other products. Short-term construction steel production is unlikely to rise. Demand side, regional demand showed significant divergence, with east China seeing better overall transactions and a noticeable inventory reduction, while northern market demand remained weak, mainly relying on direct supply orders from steel mills. Market feedback indicated that spot resources were scarce among traders in central and northern markets, with resources concentrated at steel mills. Recent price declines saw steel mills standing firm on quotes, making the spot market relatively resilient. Looking ahead, supply side pressure is relatively small, but the traditional "golden March and silver April" demand expectations fell slightly short. Coupled with medium and long-term negative overseas macro news, market sentiment remained cautious and pessimistic. Before the introduction of short-term domestic favourable macro policies, construction steel spot prices are expected to remain in a dilemma next week, with limited upward and downward adjustments.
Fundamentally, supply side, profits at BF and EAF steel mills continued to shrink, with limited enthusiasm for active production increases. Most maintained previous production levels, while some east China mills continued to sell billets or switch to other products. Short-term construction steel production is unlikely to rise. Demand side, regional demand showed significant divergence, with east China seeing better overall transactions and a noticeable inventory reduction, while northern market demand remained weak, mainly relying on direct supply orders from steel mills. Market feedback indicated that spot resources were scarce among traders in central and northern markets, with resources concentrated at steel mills. Recent price declines saw steel mills standing firm on quotes, making the spot market relatively resilient. Looking ahead, supply side pressure is relatively small, but the traditional "golden March and silver April" demand expectations fell slightly short. Coupled with medium and long-term negative overseas macro news, market sentiment remained cautious and pessimistic. Before the introduction of short-term domestic favourable macro policies, construction steel spot prices are expected to remain in a dilemma next week, with limited upward and downward adjustments.
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