Price trend
On March 16, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 4,846.67 RMB/ton, an increase of 0.86% over the previous trading day and a year-on-year increase of 4.95%. The wire rod in Jiangsu, Zhejiang and Shanghai reported 5,022 RMB/ton, an increase of 0.84% from the previous trading day and a year-on-year increase of 5.87%.
Analysis review
Boosted by the positive economic data, the wire rod and rebar futures rose, and the market sentiment improved. The impact of the recent epidemic is still there, the terminal demand has been significantly hindered, and the delivery of goods from individual ports has been affected, and merchants are generally more cautious.
Market outlook
It is expected that in the short term, the upward space of the price of the wire rod and rebar swill not be too large, and the trend will mainly fluctuate slightly.
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