DAILY: China's rebar futures rally, spot prices rangebound

The Chinese ferrous futures market delivered strong runs on February 25, with major futures contracts of steel and raw material commodities logging gains above one percentage point. Meanwhile, the spot rebar market remained quiet, since most traders and end-buyers had yet to resume business after the Chinese New Year holiday, Mysteel Global noted.

Some steel mills in North China have reportedly been notified to cut back their blast furnace operations by no less than 30% to reduce emissions during March 4-11, which coincides with the start of China's annual 'Two Sessions' meetings, Mysteel Global learned. This, coupled with favorable industry news such as Shanghai's further