Price trend

On April 20, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 5,068.89 RMB/ton, an increase of 0.11% from the previous trading day and a year-on-year increase of 1.78%. The quotation of wire rods in Jiangsu, Zhejiang and Shanghai was 5,208 RMB/ton, up 0.23% from the previous trading day and down 0.86% from the same period last year.

Analysis review

On April 20, the 16-25mm specification of high-quality rebar was quoted at 5,020-5,080 RMB/ton, and the mainstream price of wire rods of large factories was around 5,280 RMB/ton, a slight increase of 10-20 RMB/ton.

Some coke enterprises have begun to rise, and the high cost of raw materials still has sufficient support for steel prices. However, it is still in a state of closure and control, the demand performance is average, the downstream demand is still stagnant, and the terminal demand cannot be released.

Market outlook

In the short term, the price of the wire rods and rebar may be dominated by range fluctuations.

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