Steel rebar futures fell below CNY 3,100 per ton, extending losses for another session to reach a three-week low as demand concerns and policy uncertainty weighed on sentiment. Prices came under pressure amid reports that Donald Trump’s administration is preparing to revise tariffs on steel and aluminum products. The plan would keep tariffs near 50% on some products while lowering others to about 25%, applied to full import values.
The shift has raised concerns over global trade and steel demand, weighing on rebar prices. In addition, investors continued to assess supply-side pressures linked to the Iran war, which have driven up fuel and shipping costs. Tensions intensified after Trump said the conflict is “very close” to completion. He also signaled potential strikes on critical infrastructure if negotiations fail, reinforcing fears of escalation.
