Rebar Futures Grow, while Spot Prices Fall

SHANGHAI, Mar 14 (SMM) - Rebar futures fluctuated upward yesterday. The spot prices moved rangebound within a narrow range. Some traders once lowered the quotes to stimulate the transactions.

On the supply side, the recent spot prices have grown, expanding the profit margins of BF mills and pushing up the production enthusiasm. The profits of EAF mills were at the break-even point. Some EAF mills are still expected to resume production. On the demand side, the overall transactions were good. The shipment of low-priced resources was smooth, while that of high-priced resources in some areas was restricted.