Today, rebar futures maintained a fluctuating trend, closing at 3,129, up 0.61% from the previous trading day. In the spot market, quotes in some regions rose slightly, with increases ranging from 10 to 30 yuan/mt. The futures market lacked sustained performance, and market sentiment weakened somewhat, with overall trading volume remaining moderate throughout the day. On the supply side, the recent export demand for billets has been good, and profit margins are higher than those for rebar. Some manufacturers have basically filled their billet orders for May-June, and there are expectations of reduced finished steel production. Additionally, many blast furnace steel mills have recently announced new maintenance plans, which may alleviate the supply pressure on finished steel after the holiday. On the demand side, influenced by the morning's pullback in prices, market enthusiasm has weakened, with end-user purchases primarily driven by immediate needs. Overall, the current fundamental situation of construction steel remains moderate. However, with intensified competition in the futures market and increased market caution, it is expected that construction steel prices will maintain a fluctuating trend in the short term.
