[SMM Hot Topic] A Full Breakdown of Rebar Cross-Product Price Spreads! Four Core Price Spreads to Understand the Underlying Logic of Profit Distribution Across the Industry Chain
Inter-product price spreads are a segment of the rebar spread system characterized by complex logic and abundant trading opportunities. Unlike the spot-futures price spread, which reflects the spot-futures structure, and calendar spreads, which reflect near- and far-term expectations, the core of inter-product price spreads lies in macroeconomic structural adjustment and profit distribution across the industry chain. From the perspective of the industry chain, inter-product price spreads for long steel products are mainly concentrated in the following four areas: