Posted by Tobby > 2022-02-07 15:38 | Report Abuse

Steel Rebar increased 5.71% to 5051 CNY/T, amid limited supply, rising iron ore and nickel prices, and prospects of a boom in demand. Production in China is likely to be constrained in the first quarter due to factories maintenance, the Lunar New Year holidays, and efforts by the government to limit pollution during the Beijing Winter Olympics. At the same time, prices of steelmaking ingredients nickel and iron ore remain elevated, with possible supply disruptions in top iron ore exporter Australia due to a surge in coronavirus cases. Meanwhile, there are prospects demand in China will increase in the second quarter of the year as the construction and infrastructure sectors pick up and the Chinese authorities adopt stimulus measures to shore up the economy.

Posted by Arrogant83 > 2022-02-07 15:41 | Report Abuse

covid-19 spreading like no tomorrow!

Posted by Tobby > 2022-02-07 15:43 | Report Abuse

Arrogant! Yeah, but Omicron is mild! Fasten herd immunity! Just go get your booster!