China Steel Rebar Hits One Month Low on Holiday Production Pauses

Supply Side Discipline

Chinese steel mills are implementing planned maintenance to manage output during the seasonal lull. However, blast furnace utilization remains above 86%, indicating that mills are prepared for a swift restart if spring demand signals improve.

Developer Liquidity and Demand

Beijing's recent moves to exempt major developers from certain leverage restrictions are providing some optimism for rebar-intensive projects in Q2. For now, the market is in a 'wait-and-see' mode regarding the property sector recovery.