Post-holiday rebar market may initially decline then rise

After the holiday, the rebar market may initially decline and then rebound. Demand is slow to pick up, with over 60% of construction companies resuming work taking 10-15 days. New project commencements are scarce, and social inventories continue to rise, putting spot prices under pressure and weakening. The 05 futures contract is expected to decline in tandem, with the basis gradually widening. Overall market sentiment remains cautious, with inventory turnover days controlled between 15-20 days. (My Steel Network)