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[SMM Rebar Daily Review] Futures Rise While Spot Remains Stable, Is the Market Lacking Vitality?
Feb 06, 2025, at 5:33 pm
[SMM Rebar Daily Review: Futures Rose While Spot Remained Stable, Market Lacked Vitality?] Today, rebar futures fluctuated upward, closing at 3,357 points, up by 0.6%. Spot market-wise, prices across various regions nationwide were basically stable today, with limited market demand and few transactions...
Rebar futures fluctuated upward today, closing at 3,357 points, up 0.6%. Spot market prices across the country remained basically stable, with limited market demand and few transactions.
Supply side, this week's construction steel production increased slightly but remained at a relatively low level overall. As EAF steel mills gradually resume production, supply is expected to see some growth.
Inventory side, according to the SMM survey, national rebar inventory stood at 6.6117 million mt, up 2.1327 million mt from pre-holiday levels (up 47.62% MoM) but down 32.64% YoY on a lunar calendar basis, remaining at a low YoY level.
Demand side, rebar futures rose today, and market sentiment improved slightly. However, some merchants have not yet returned to the market, and downstream construction sites have not resumed work, leaving market activity yet to recover.
In summary, the overall fundamentals of construction steel show no significant imbalance. With demand yet to pick up, market prices are more influenced by sentiment, and short-term fluctuations are expected to remain rangebound.
