Demand for Rebar Increased Obviously Last Week in Light of Improving Funds for Infrastructure Projects

SHANGHAI, Mar 16 (SMM)- The market transactions of rebar improved significantly last week as the price increase promoted the release of speculative demand. In addition, the funds for downstream infrastructure projects have improved, hence the production accelerated and the restocking demand increased. As such, the overall demand for rebar continued to recover steadily. In the follow-up stage, the current funding situation of real estate industry is relatively poor. But the considerable infrastructure projects may still drive up the short-term demand for rebar. HRC prices fluctuated at a high level markets and the futures and spot transactions with low prices were active. The rigid demand in south China was slightly stronger than other regions, and the overall demand for HRC has shown a slow and moderate recovery. In terms of forecast, demand from domestic manufacturing and infrastructure industry is expected to grow steadily in the medium term, and the market is cautiously optimistic about the medium and long-term demand in 2023.