[SMM Rebar Daily Review] Production Cuts Resurface: Can Spot Prices Respond by Rising?

Mar 12, 2025, at 9:16 am

[SMM Rebar Daily Review: Production Cuts Resurface, Can Spot Prices Respond and Rise?] Today, rebar futures fluctuated rangebound, closing at 3,226 points, up 0.59%. On the spot side, market prices mostly remained stable today, with slight weakness in some markets. Overall transactions were slightly better than yesterday...

Today, rebar futures fluctuated within a narrow range, closing at 3,226 points, up 0.59%. In the spot market, most prices remained stable, with slight weakness in a few markets. Overall, transactions were slightly better than yesterday. On the supply side, according to SMM's survey, the operating rate of sample electric furnace steel mills this week was 40.6%, down 0.7% WoW, mainly due to poor profitability, leading some steel mills to shorten operating hours. Today, market news reported that state-owned coal mines reduced this year's task volume by 8%, and detailed measures for crude steel production cuts are expected to be announced soon. This boosted market confidence, coupled with the continued recovery in demand strength, resulting in strong market sentiment for price increases. It is expected that tomorrow's construction steel prices will operate steadily with a slight upward bias.

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[SMM Rebar Daily Review] Production Cuts Resurface: Can Spot Prices Respond by Rising?

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