According to Hellenic Shipping News Worldwide, steel rebar futures recently surpassed CNY 3,140 per ton. This marked their highest level since mid-June, reflecting market anticipation of a demand recovery.
Investors are looking ahead to the September peak construction season, which is a key seasonal factor influencing demand. This period typically sees an uptick in construction activity.
The report noted that construction activity in China, a major consumer of steel, usually intensifies before the onset of winter. This trend is expected to bolster the demand outlook for steel.
The anticipated increase in construction work also strengthens the demand prospects for various raw materials used in steel production. This seasonal pattern is a significant driver for the market.
