Shanghai rebar futures finally showed a pulse yesterday:
![](https://api.macrobusiness.com.au/wp-content/uploads/2023/10/2-90.png)
But steel prices need to rise much more to offset the mad iron ore bid if mills are to be profitable:
![](https://api.macrobusiness.com.au/wp-content/uploads/2023/10/3-72.png)
They are shutting in production at a good clip:
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![](https://api.macrobusiness.com.au/wp-content/uploads/2023/10/1-148.png)
Shanghai rebar futures finally showed a pulse yesterday:
But steel prices need to rise much more to offset the mad iron ore bid if mills are to be profitable:
They are shutting in production at a good clip:
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