SMM Steel Morning Brief: Steel Prices Fluctuate Amid Macro Vacuum and Weak Demand-Supply Dynamics

Publicado: Dec 17, 2024 07:40
[SMM Steel Morning Brief: Macro Enters Vacuum Period, Steel Prices Face Dilemma] Yesterday, rebar futures fluctuated slightly, closing at 3,352, down 0.74%. In the spot market, traders stood firm on quotes in the morning, but some slightly lowered prices in the afternoon, with overall transactions remaining weak. In terms of supply, environmental protection inspections combined with routine winter maintenance have kept steel mill construction material production at relatively low levels, with overall supply pressure relatively small. On the demand side, most projects in the north have been suspended, while a few in south China still have some rush-to-meet-deadlines demand. In the short term, construction material inventory may continue to decline. Currently, traders show low enthusiasm for winter stockpiling, and steel mills may focus on self-stockpiling. In the short term, fundamental imbalances are not apparent, and the macro perspective lacks momentum, so steel prices may maintain a fluctuating trend.

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