Price trend

According to the price monitoring of SunSirs, the prices of rebar and wire rod in the Jiangsu, Zhejiang and Shanghai regions had slightly increased this week. As of the 18th, the average price of HRB400 rebar in the Jiangsu, Zhejiang and Shanghai regions was about 3,665.56 RMB/ton, an increase of 0.75% compared to the beginning of the week; The average price of high line HPB300 was 3,874 RMB/ton, an increase of 0.44% compared to the beginning of the week.

Analysis review

Market aspect: As the weekend approached, the national engineering demand was 69,840 tons, a 9.36% increase in demand compared to the previous trading day. From January to July, the construction area of real estate development enterprises' houses was 7,996.82 million square meters, a year-on-year decrease of 6.8%. Among them, the residential construction area was 563,026 million square meters, a decrease of 7.1%. The newly constructed area of houses was 569.69 million square meters, a decrease of 24.5%. Among them, the newly constructed residential area was 415.46 million square meters, a decrease of 25.0%. The completed area of houses was 384.05 million square meters, an increase of 20.5%. Among them, the completed residential area was 279.54 million square meters, an increase of 20.8%.

Inventory and Production: This week, the production of rebar decreased slightly, while the production of wire rod increased slightly. The total inventory of rebar and wire rod decreased slightly.

On the upstream side, the coke market temporarily stabilized after the fifth round of increase; Port iron ore fluctuated slightly; The scrap steel market continued to remain stable. Tangshan steel billets had been slightly raised, and the State Council had held a second meeting, with macroeconomic policies continuing to be positive.

Market outlook

As of August 18th, the news of policy driven production pressure had not yet been truly implemented. Manufacturers were cautious in their operations, and sales needed to be improved. It is expected that in the short term, the trend of rebar and wire rod prices will tend to be stronger.

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