SMM Rebar Fundamentals: Supply Up Slightly, Demand Weakens Due to Weather, Futures Market Slump

Published: May 20, 2025 16:59

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[SMM Rebar Fundamentals Update]
Fundamentals side, on the supply side, according to SMM's weekly maintenance survey, the impact from maintenance on construction steel production this week was 1.1378 million mt, up 24,000 mt WoW. In terms of short-process production, some steel mills have resumed production as planned recently, with relatively small changes in overall supply. On the demand side, many areas in south China have entered rainy periods, while north China has experienced widespread high temperatures, slightly hindering construction work at downstream sites. The demand for purchases by end-users has declined. Meanwhile, the futures market has weakened, and the speculative atmosphere in the market has been sluggish. Merchants are generally cautious and adopting a wait-and-see attitude, with overall demand showing some weakness. It is expected that the weak market pattern will be difficult to change in the short term, and construction steel prices will continue to show a slight downward trend.

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