Rebar Futures Prices Add 0.53% on Feb 20

SHANGHAI, Feb 21 (SMM) - Rebar futures prices added 0.53% yesterday.

On the supply side, in terms of BF mills, according to SMM survey, the construction steel output loss caused by maintenance dipped  4.72% WoW to 520,900 mt. EAF mills resumed production as scheduled, but they got low profit margins from the rising steel scrap prices yesterday. And many EAF mills maintained single-shift or low operating rates. The total output of construction steel continued to rise. On the demand side, the spot quotations in various places grew less compared with the futures prices. Some terminal companies made intensive restocking, and speculative demand in the market has simultaneously rebounded. The demand grew palpably.