Recently, the futures rebar 2501 contract has been fluctuating between 3230-3300 (similar for hot-rolled coil). On the 19th, China held a Politburo meeting, reportedly planning to increase monetary easing to stimulate the economy. The basis between spot and futures has returned to normal, weakening the support for further market increases. Meanwhile, the U.S. Dollar Index has halted its rise at 107 (steel futures typically move inversely to the USD Index), slightly easing downward pressure on steel prices.

In the short term, steel prices are unlikely to see significant rises or falls, remaining in a disordered fluctuation range. Once the market verifies and calibrates this range, the price for the rebar 2501 contract is expected to stabilize between 3230-3330. If you have orders and are not in a rush for delivery, waiting might be an option. However, for urgent needs, current prices remain reasonable.

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