Rebar Prices to Climb Further in the Short Term, with Positive Long-Term Outlook in H2

SHANGHAI, Apr 19 (SMM) – Lower supply and pre-holiday stocking should drive rebar prices to climb further in the short term. The area of housing under construction decreased further in March, which will undermine rebar demand in Q2. However, the YoY growth rate of commercial housing sales returned to positive territory in March, and the real estate market is likely to recover in H2, which will boost rebar prices by then.