Price trend

According to the price monitoring of SunSirs, as of December 16, the prices of deformed steel bars and wire rods in Jiangsu, Zhejiang and Shanghai had risen slightly this week. As of the 16th, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 3,968.89 RMB/ton, up 2.12% from the beginning of the week; As of the 16th, the average price of HPB300 in Jiangsu, Zhejiang and Shanghai was 4,266 RMB/ton, up 2.65% from the beginning of the week.

Analysis review

Market:

As of the weekend, the national engineering demand was 94,316 tons, down 8.5% from the previous trading day and down 9% compared with the same period of last week. From January to October, the national real estate development investment was 11,394.5 billion yuan, down 8.8% year on year; Among them, the residential investment was 8,652 billion yuan, down 8.3%.

Inventory and production:

This week, the total inventory of rebar decreased, the total inventory of wire rod increased, and the weekly output of rebar and wire rod decreased. In terms of upstream, coke continued to be stable; Port iron ore strengthened in shock; Some scrap steel rose partly. Steel mills all over the country raised the factory price one after another, and the spot price rise with the trend, with a large cumulative increase. Transaction performance was good, and terminal procurement also increased.

Market outlook

Near the winter storage season, due to the obvious seasonal weakening of demand, the market mentality gradually tends to be cautious. It is expected that the price of wire rod and rebar will fluctuate to be stronger in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com