Steel futures rebound may herald uptick in Chinese rebar/wire rod market

In the early days of the past week, traders were eager to sell their rebar and wire rod stocks at discounts, resulting in reductions in market prices. However, the strong performance seen in the steel futures market on Friday, September 7 has helped improve the mood in the Chinese rebar and wire rod market. Accordingly, it is thought that local rebar and wire rod prices in China may indicate a slight uptick in the coming seven days.