"SMM Steel Morning Meeting Minutes: Coking coal initiates second round of price hikes, futures market rallies in late trading

Yesterday, the rebar oscillated and operated at 4001, a decrease of 0.45% compared to the previous trading day, and the spot market prices remained stable with a weak trend throughout the day. On the supply side, according to SMM's research, the operating rate of 34 major electric furnace steel plants across the country was 53.76%, an increase of 3.47 percentage points from the previous period. The steel plants' profitability continued to improve, and there is still an expectation of increased supply in the short term. On the demand side, there was little news during the day, the market trend turned weak, market sentiment cooled slightly, and speculative demand was generally released. Terminal purchases continued to follow an as-needed strategy, and the overall trading volume was weak throughout the day."