SunSirs: Analysis on Spot Price of Wire Rod and Rebar on December 12
December 14 2022 14:34:15 SunSirs (John)
Price trend
On December 12, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 3,886.67 RMB/ton, up 1.45% from the previous trading day and down 18.93% year on year. On December 12, the quotation of wire rods in Jiangsu, Zhejiang and Shanghai was 4,156 RMB/ton, down 0.1% from the previous day and 15.6% year on year.
Analysis review
During the weekend, Tangshan billets continued to rise. In addition, leading steel mills around the country significantly adjusted up their factory prices, the spot prices of domestic businesses rose in confusion.
Recently, the market continued to strengthen under the stimulus of the continuous introduction of macro policies. In addition, the trend of raw materials was very strong, which has strong support for spot goods in the short term.
Market outlook
It is expected that in the short term, the domestic wire rod and rebar prices will be mainly strong.
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