Last week, the market reported that the Chinese government might hold a Central Urban Work Conference. Such policy conferences are rare and often closely related to major urbanization reform measures.
This news has stimulated optimistic expectations in the real estate market and further boosted the demand for construction steel. Therefore, the price trend of construction steel in the Chinese market has begun to reverse, and market sentiment has significantly recovered.
Recently, the prices of rebar in the Shanghai spot and futures markets have risen. Market participants said that if relevant policies are implemented in the future, it will provide support for steel demand. However, it’s necessary to pay attention to the actual policies and implementation details, and then evaluate the subsequent trends.