[SMM Rebar Daily Review] Supply-demand imbalance gradually accumulates, market in the doldrums may become the main trend in the short term

Published: Jun 17, 2025 17:13

Save

[SMM Rebar Daily Review: Supply-Demand Imbalance Gradually Accumulates, Doldrums Market May Become Short-Term Main Trend] Today, rebar futures fluctuated rangebound, closing at 2,981, up 0.17% from the previous trading day. In terms of spot prices, spot rebar prices in most regions remained stable, with a small number of regions experiencing a price decline of 10 yuan/mt. The market sentiment was characterized by strong wait-and-see attitudes, and the overall trading performance for the day was weaker than that of the previous day.

Today, rebar futures fluctuated rangebound and closed at 2,981, up 0.17% from the previous trading day. In terms of spot prices, spot prices in most regions remained stable, while prices in a few regions fell by 10 yuan/mt. The market sentiment was one of wait-and-see, and overall trading performance was weaker than yesterday. On the fundamental side, EAF steel mills, facing intensified profit losses, saw some mills reducing their operating hours or halting production. Blast furnace steel mills, however, continued to enjoy considerable profits. According to the SMM survey, the impact from maintenance on construction steel this week was 1.262 million mt, a decrease of 57,000 mt WoW, indicating a slight increase in supply. On the demand side, persistent heavy rainfall in south China and high temperatures in the north limited construction speeds at downstream sites, with procurement mainly driven by immediate needs. The overall market trading atmosphere was poor. In summary, contradictions in the construction steel fundamentals are gradually emerging. With the fading impact of coking coal news, the support for rebar futures and spot prices is limited. It is expected that construction steel prices may remain in the doldrums in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 18:30

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41