Price trend

According to the price monitoring of SunSirs, as of November 25, the prices of rebar and wire rods in Jiangsu, Zhejiang and Shanghai had a narrow range of shocks this week. As of the 25th, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 3,754.44 RMB/ton, down 0.76% from the beginning of the week; the average high line price of HPB300 in Jiangsu, Zhejiang and Shanghai was 4,174 RMB/ton, down 0.95% from the beginning of the week.

Analysis review

Market: As of the weekend, the national engineering demand was 67,014 tons, down 12.1% from the previous trading day and 2.2% weekly. From January to October, the national real estate development investment was 11,394.5 billion RMB, down 8.8% year on year; Among them, the residential investment was 8,652 billion RMB, down 8.3%.

Inventory and production

This week, the total inventory and weekly output of rebar decreased, while the weekly output of wire rods increased and the total inventory decreased.

In terms of upstream, the first round of coke increase of 100-110 RMB/ton was basically implemented; Port iron ore prices rose; The scrap was stable as a whole. Recently, domestic demand continued to weaken, with significant off-season effect. Businessmen were less willing to store in winter, and prices were obviously lack of upward impetus.

Market outlook

However, with the support of strong raw materials and low inventory, there is limited room for price decline in the short term. It is expected that the price of wire rod and rebar will fluctuate in the short term.

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