SunSirs: This Week, Prices of Rebar and Wire Rod Rose First and Then Decreased (March 13-17)
March 20 2023 14:01:46 SunSirs (John)
Price trend
According to the price monitoring by SunSirs, as of March 17, the prices of deformed steel bars and wire rods in Jiangsu, Zhejiang, and Shanghai regions rose first and then fell this week. As of the 17th, the average price of HRB400 rebar in Jiangsu, Zhejiang, and Shanghai was about 4,280 RMB/ton, down 1.46% from the beginning of the week; the average high line price of HPB300 in Jiangsu, Zhejiang, and Shanghai was 4,486 RMB/ton, down 1.41% from the beginning of the week.
Analysis review
In terms of market: in January and February, the national fixed assets investment (excluding farmers) increased by 5.5%; China's infrastructure investment increased by 9.0% year-on-year in the first two months; National Bureau of Statistics: Currently, the economy is still in the initial recovery stage.
Inventory and output: This week, the weekly production of rebar and wire rod increased, while the total inventory of rebar and wire rod decreased.
Upstream, the coke market was stable; Port iron ore weakened in shock; The rebar and wire rod market weakened and fell, the decline increased. In the first half of this week, due to the increase in square billet prices over the weekend, the price of rebar and wire rod increased with each other. In the second half of this week, due to foreign macro impact, domestic ferrous metals significantly decreased, and the spot decline widened. The domestic supply and demand side was acceptable, and the profits of steel mills were gradually recovering, still dominated by destocking.
Market outlook
Overall, the fundamentals of the rebar and wire rod are fair, mainly influenced by foreign macro factors, and it is expected that the rebar and wire rod prices will mainly fluctuate to be stronger.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
