Steel rebar futures climbed above CNY 3,140 per ton, moving toward five-month highs as expectations for fresh stimulus in top consumer China lifted sentiment. Senior government officials met on Friday to discuss a package of fiscal and financial measures aimed at boosting domestic demand, including steps to support household consumption. Last week, China’s central bank also signaled plans to cut the reserve requirement ratio and lower key policy rates this year to maintain ample liquidity and an accommodative policy stance. Additionally, markets are pricing in two US Federal Reserve rate cuts this year, further supporting the global demand outlook. Meanwhile, Chinese steelmakers continue to benefit from healthy margins, with rising hot metal output pointing to solid production activity.
