Steel rebar futures rebounded past CNY 3,300 per tonne, approaching the one-month high of CNY 3,330 from January 17th as eased concerns about US tariffs on China allowed markets to focus on promising data for Chinese construction and manufacturing. Housing prices in China fell the least since August at the end of the year, aligning with signs of traction in the housing market and signs of stronger construction demand following the sharp rebound in the NBS Construction PMI, which rose to 53.2 in December from the record low of 49.7 in November. Besides its major use in construction, demand for ferrous metals was also supported by a sharp acceleration in industrial output in December. Also, China exported 9.7 million tons of steel in December, a 26% surge from the previous year to cap off a record-setting year for steel exports, indicating that major Chinese mills continued to sell large volumes of metal to for foreign consumers despite the growing global protectionism rhetoric.
Steel decreased 3 Yuan/MT or 0.09% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Steel reached an all time high of 6198 in May of 2021. Steel - data, forecasts, historical chart - was last updated on January 25 of 2025.
Steel decreased 3 Yuan/MT or 0.09% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel is expected to trade at 3249.43 Yuan/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 3074.33 in 12 months time.