Supply, the weekly production of rebar is 3.6 million tons, which is the same from week to week. In terms of inventory, the total inventory of rebar was 6.76 million tons, a decrease of 80,000 tons over the previous week, and the decline was further reduced. In terms of demand, the average weekly consumption of rebar steel was 3.68 million tons, a decrease of 290,000 tons over the previous week. Weekly rebar production remained flat month-on-month; apparent consumption continued to decline month-on-month; overall, supply and demand were balanced, and inventories were 1.86 million tons higher than the same period last year.

Construction steel sold 169,000 tons on Thursday, down 27,000 tons from the previous day; spot prices fell and spot transactions shrank; later, the market continued to pay attention to demand, which determined the extent of inventory removal.

Rebar futures declined and fluctuated. Although the cost of stronger raw materials was supported, demand for rebar has continued to decline and weaken. Spot prices have loosened and declined, and downstream procurement has slowed. The future market still depends on demand, which determines the pace of decline in spot prices. The short-term market is expected to fluctuate and adjust. The base difference is large, and shocks are inevitable. The 2105 contract is lightly tested, mainly during short-term trading days.