China Steel Rebar Ticks Higher on Post Holiday Stimulus Hopes

image-alt-text

Stimulus Expectations

Early-bird traders are positioning for a post-holiday restart. The expectation is that the government will move to offset property sector weakness with intensified spending on 'New Infrastructure' projects like EV charging networks.

Cost Floor

Resilient iron ore prices, which have held above $130/ton, are providing a floor for finished steel prices despite the current lack of physical construction activity.