04.09.202506:50:17UTC+00Steel Stabilizes as Production Resumes

Steel rebar futures stabilized at approximately CNY 3,060 per tonne on Thursday, following an eight-week low during the previous session. This comes as Chinese mills are setting plans to boost production after recent restrictions on output were lifted. Reports suggest that producers in significant areas like Tangshan are preparing to resume operations and increase their purchase of raw materials. However, since mid-August, inventories of major steel products have been on the rise, underscoring a lackluster demand stemming from the ongoing downturn in the property sector. This accumulation of stock continues to exert downward pressure on prices and may deter mills from increasing production aggressively. Furthermore, the weak consumption levels have compressed steel margins, reducing the drive for raw material procurement.