Summary of SMM Steel Morning Meeting: Market Expectations Disappointed, Is There Still Room for Rebar to Rise?

Iron Ore: Yesterday, the iron ore continued to fluctuate downward, and the main contract I2405 finally closed at 933, with a daily decline of 3.17%. Traders are selling along with the market. Steel mills are replenishing their stocks due to strong demand, and the overall market transaction atmosphere was bleak yesterday.

Coke: Overall, the supply and demand of coke are leaning toward being loose. With the steel mill inventory still in good condition, coke is likely to continue...

Rebar: With recent pressure on steel mill profits, it may limit the space for production to rebound. With weak supply and demand, the fundamental contradiction of building materials needs to continue to accumulate, and the driving force is still uncertain, it is expected...

Hot-rolled Coil: Overall, the fundamental contradiction of hot-rolled coil is expected to continue to accumulate. On the raw material side, there is still an expectation of a decrease in coke, which will provide cost support...