On November 26, the average price of rebar in China was stable compared with the previous day, the price adjustment range was about 10-20 RMB/ton, and the main quotation of rebar in large factories was between 4110-4170 RMB/ton. After the rapid rise of rebar in recent period, the price has reached a high point, or there will be a turning point to rush up and fall back; the weather keeps turning cold, the downstream demand is weakened, the transaction is flat, and the market sentiment tends to be cautious.
In terms of supply, today's price of Tangshan steel billet is the same as that of the previous day, and some steel mills are willing to increase the price significantly. They continue to increase the factory price of rebars by about 20 RMB/ton.
In terms of futures, the trend of futures market is sluggish and choppy. The main contract 2001 ended at 3611 RMB/ton, 72 RMB/ton lower than the settlement price of the previous trading day.
In terms of market, the spot prices of northern cities are mostly adjusted upwards, with a range of about 10-20 RMB/ton, and the spot prices of southern cities have steadily declined, with a cumulative decline of about 20-50 RMB/ton. Due to the future rebar shock down of the rebar night trading in previous day, most of the merchants held a stable price and wait-and-see attitude this morning. Occasionally, prices loosened, and the reduction range was about 10-20 RMB/ton. With the shock of futures rebar falling, the mood of merchants became weak, and after the early continuous rise, some high-level resources trading was not smooth, and the overall trading performance was flat today.
On the whole, the futures fluctuated and fell, driving the spot price to weaken, the downstream demand was weaken, the overall transaction performance was flat, and the continuous increase led to the high price of rebar, which has the risk of falling back. It is expected that the rebar will be weak in the future.
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