Steel Pulls Back from 5-Month High

2026-01-30 10:41 By Andre Joaquim 1 min. read

Steel rebar futures in China fell to CNY 3,100 per tonne after testing five-month highs of CNY 3,160 on January 29th, pressured by the recent decline in industrial metals as markets reconsidered speculative trades.

Still, evidence that demand may have bottomed and efforts by Beijing to cap overcapacity maintained contracts above the flatline this year.

China reportedly exempted major developers from submitting data that previously aimed to limit their access to leverage.

Such a move would increase accessibility of loans and limit short-term liquidity risks for stressed constructors, improving the outlook for rebar-intensive projects.

Meanwhile, the latest official data reflected a rebound in Chinese construction activity in December following four periods of contraction.

Meanwhile, evidence from the World Steel Organization indicated a drop in global supply in 2025, led by cuts in China amid their anti-involution campaign.



News Stream
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