SunSirs: The Price of Wire Rod and Rebar Was Narrow and Stronger This Week (December 5-9)
December 12 2022 14:39:55 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, as of December 9, the prices of rebar and wire rods in Jiangsu, Zhejiang and Shanghai were mainly adjusted in a narrow range this week. As of September 9, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 3,831.11RMB/ton, up 0.67% from the beginning of the week; As of September 9, the average price of HPB300 in Jiangsu, Zhejiang and Shanghai was 4,160 RMB/ton, down 0.43% from the beginning of the week.
Analysis review
Market:
As of the weekend, the national engineering demand was 95,118 tons on December 8, up 26.9% from the previous trading day and up 19% from the same period of last week. From January to October, the national real estate development investment was 11,394.5 billion yuan, down 8.8% year on year; Among them, the residential investment was 8,652 billion yuan, down 8.3%.
Inventory and production
The total inventory and weekly output of deformed steel bars rose this week, and the weekly output and total inventory of wire rods rose.
On the upstream side, the third round of coke inflation was fully launched, and the mainstream steel mills did not respond; The port iron ore fell back in shock; The rise and fall of scrap steel were mutual, and the overall operation was temporarily stable. The domestic construction steel inventory increased slightly this week, but the absolute value was still at a low position. With the change of domestic epidemic prevention policy, the market's expectations for the future market have improved significantly, and there may be some room for price increase in the short term.
Market outlook
It is expected that the wire rod and rebar will operate stronger in shock in the short term.
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