Steel rebar futures steadied above CNY 3,130 per tonne on Thursday, snapping this week’s decline as mandated production curbs ahead of China’s upcoming military parade turned out to be less severe than markets had feared, easing concerns about demand. Steelmakers in Tangshan are set to cut sintering output by 30% from August 25 and blast furnace output by 40% from August 31, far milder than expectations of a full shutdown. The shorter-than-expected timeframe for restrictions also points to a more limited impact on metals consumption. Earlier in the week, steel prices came under pressure from US trade policy after the Trump administration expanded its 50% tariff on steel and aluminum imports to cover hundreds of additional products beginning August 18. President Donald Trump also signaled that further tariff measures targeting steel and semiconductor chips will be announced in the coming weeks.
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