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[SMM Rebar Daily Review] Inventory Growth Significantly Slows, Futures Market Rises with Spot Price Following
Feb 20, 2025, at 5:20 pm
[SMM Rebar Daily Review: Inventory Growth Significantly Slows, Futures Push Spot Prices Higher] Rebar futures rose significantly today, closing at 3,358 points, up 1.24%. Spot market: In the morning, prices in various regional markets were largely stable. In the afternoon, market quotations rose slightly following the futures market's rally, and trading activity increased...
Today, rebar futures rose significantly, closing at 3,358 points, up 1.24%.
In the spot market, morning prices in various regional markets remained stable overall, while afternoon market quotations slightly increased following the futures market rally, with trading activity improving.
On the fundamentals, according to SMM survey data, total rebar inventory this week was 7.9316 million mt, up 266,300 mt WoW (3.47% increase), but down 33.26% YoY based on the lunar calendar. As demand gradually recovers, the inventory growth narrowed significantly compared to last week.
Looking ahead, construction steel supply is expected to see a slight increase, while demand strength continues to recover. The absolute inventory value remains significantly lower YoY, indicating relatively healthy fundamentals. Under the expectations of the Two Sessions, producers show strong willingness to raise prices. It is expected that construction steel spot prices will continue a slightly bullish trend tomorrow.
