SunSirs: Both Supply and Demand Increased, and the Price of Rebar and Wire Rod Rose Slightly This Week (March 6-10)
March 13 2023 10:40:44 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, as of March 10, the prices of rebar and wire rod in Jiangsu, Zhejiang and Shanghai fell slightly this week. As of the 10th, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 4,316.67 RMB/ton, up 2.4% from the beginning of the week; the average price of HPB300 in Jiangsu, Zhejiang and Shanghai was 4,524 RMB/ton, up 1.79% from the beginning of the week.
Analysis review
Market: As of the weekend, the national engineering demand was 114,531 tons, up 61.7% from the previous trading day and up 21.8% from the same period last week. In 2022, the national sales volume of commercial housing was 13.33 trillion RMB and the sales area of commercial housing was 135,800 square meters, down 26.7% and down 24.3% respectively year on year.
Inventory and output: This week, the weekly output of rebar increased, and the weekly output of wire rod decreased; The total inventory of rebar and wire rod decreased.
In the upstream, the scope of coke market increase was expanded; The iron ore in the port rebounded in shock; The scrap steel market partially fell back. This week, affected by the positive macro news, the futures rebar rose sharply, the market sentiment gradually improved, the demand slightly released, the enthusiasm of terminal procurement also increased, and the overall transaction significantly increased.
Market outlook
Both the supply and demand sides increased this week, the inventory continued to decrease, the fundamentals trend was positive, and the market bullish sentiment dominated. It is expected that the price of thread screw will be dominated by strong operation trend.
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