Price trend

On September 20th, the latest price of rebar in the Jiangsu, Zhejiang and Shanghai regions was 3,788.44 RMB/ton, a decrease of 0.38% from the previous trading day and a year-on-year decrease of 3.3%. The latest price of wire rod in the Jiangsu, Zhejiang and Shanghai regions was quoted at 3,965.2 RMB/ton, a decrease of 0.3% from the previous trading day and a year-on-year decrease of 3.15%.

Analysis review

On September 20th, the price of rebar and wire rod loosened. Approaching the National Day holiday, some steel mills had seen an increase in demand for restocking and had accepted an increase in coke prices. But the rigid demand was flat, and transactions were still light. The construction site purchased according to the consumption schedule, and intermediaries made up orders at low prices.

Market outlook

It is expected that the price of rebar and wire rod will mainly fluctuate in a narrow range in the short term.

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