Price trend

According to the price monitoring of SunSirs, as of November 18, the prices of rebar and wire rods in Jiangsu, Zhejiang and Shanghai rose slightly this week. As of August 18, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 3,812.22 RMB/ton, up 0.59% from the beginning of the week; the average price of HPB300 in Jiangsu, Zhejiang and Shanghai was 4,234 RMB/ton, up 0.59% from the beginning of the week.

Analysis review

Market: As of the weekend, the national engineering demand was 62,560 tons, down 41.4% from the previous trading day and down 17.7% from the same period of last week. From January to September, the construction area of real estate development enterprises was 8,789.19 million square meters, down 5.3% year on year.

Inventory and production: The total inventory and weekly output of rebar and wire rods decreased this week.

On the upstream side, coke operated stably temporarily; The port iron ore price had slightly retreated; The price of scrap steel rose and fell with each other, and was stable as a whole. Near the weekend, the demand for terminal stock was released slightly, and the transaction performance was fair in the morning of the 18th. Resources continued to be tight, and there was a shortage of specifications in some regions, so the price was strongly supported.

Market outlook

As the rush period of key projects approaches, the demand will remain resilient in the short term. At the same time, the market is expected to improve in the short term under the continuous release of warmth from macro policies. It is expected that the price of wire rod and rebar will fluctuate to be strong in the short term.

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