Rebar Futures Fluctuate at High Level

SHANGHAI, Feb 20 (SMM) - Last Friday, the rebar futures fluctuated at a high level, with an increase of 1.36% throughout the day

On the supply side, according to SMM research, EAF steel mills resumed the production last week, and the operating rates rose to 39.65%, which was 19.95 percentage points lower than the same period last year. In terms of BF steel mills, mostly of them maintained stable production, and the increase was small. Therefore, the resumption of electric arc furnaces contributed the major increase. On the demand side, market sentiment improved as rebar prices stabilised and rebounded. Speculative demand increased significantly and terminal purchases also increased.