SunSirs: The Price of Wire Rod and Rebar Rose Slightly This Week (February 6-10)
February 13 2023 14:27:03 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, as of February 10, the prices of rebar and wire rods in Jiangsu, Zhejiang and Shanghai this week mainly rose slightly. As of the 10th, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 4,085.56 RMB/ton, up 0.91% from the beginning of the week; the average price of HPB300 in Jiangsu, Zhejiang and Shanghai was 4,340 RMB/ton, up 0.37% from the beginning of the week.
Analysis review
Market: As of the weekend, the national engineering demand was 46,123 tons on February 9, down 16.6% from the previous trading day. In 2022, the national sales volume of commercial housing was 13.33 trillion yuan and the sales area of commercial housing was 135,800 square meters, down 26.7% and 24.3% respectively year on year.
Inventory and production: This week, the total inventory of rebar and wire rod accumulated, and the weekly output increased.
Upstream, the coke market remained stable; The iron ore in the port was stronger; The scrap market was stable and stronger. With the resumption of work in the terminal market, the overall transaction volume had gradually improved and the daily turnover had reached the normal level.
Market outlook
In the near future, the macro expectation is still good, and the financial market is expected to maintain a strong operation. In the short term, the domestic construction steel price may fluctuate upward.
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