Steel price trend (2022) Market rally on supply woes

Steel Rebar futures have climbed to around CNY 5,200 per ton, a level not seen since October last year, on solid demand prospects after the world's top consumer China said it would renew its stimulus package to stabilize the economy. China would adopt a package of policies to help pandemic-hit industries, stepping up infrastructure construction and back healthy property market development. On top of that, soaring energy costs on the heels of the war in Ukraine have forced steelmakers to increase prices for large steel sections. The commodity advanced almost 1% in April, posting a second consecutive monthly gain.

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