Steel Prices to Bear Pressure from Possible Production Ramp-up of Steel Mills

SHANGHAI, Mar 1 (SMM) - Iron ore prices can hardly fall as steel mills gradually ramp up their production. SMM believes that the rebar futures prices will bounce back. In the mid-term, the market shall keep an eye on the growth rate of rebar production. In the case of continuous recovery of steel mills' profits, if steel mills ramp up production significantly in March, the steel prices may suffer pressure.