Price trend

On May 23, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 4,764.44 RMB/ton, down 0.07% from the previous trading day and down 6.52% from the same period last year; the price wire rods in Jiangsu, Zhejiang and Shanghai was 5,060 RMB/ton, unchanged from the previous trading day and down 8.37% year-on-year.

Analysis review

On the 23rd, the quotations of Ф6.5-10mm high wire such as Jiujiang and Beitai were 4,870-4,910 RMB/ton; the base price of rebar of Huanghai, Binxin was around 4,620-4,670 RMB/ton, and the price of some qualified coil rebar was around 5,000 RMB/ton; The quotations of Zhongtian and Yonggang were at 4,750-4,790 RMB/ton.

During the weekend, Tangshan billet prices rose slightly, and market sentiment improved. Some urban traffic has resumed operation, but the date of full lifting of the ban is still uncertain, and the short-term demand release is insufficient. On the 23rd, the transaction still hovered at a low level, and only the performance of the middleman transaction was acceptable.

Market outlook

In the short term, the market of wire rod and rebar is mainly volatile within a narrow range.

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