SunSirs: This Week, Rebar and Wire Rod Prices Fluctuated and Fell (April 10-14)
April 17 2023 14:32:08 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, as of April 14th, the prices of threaded steel and wire rods in the Jiangsu, Zhejiang and Shanghai regions had fluctuated and decreased this week. As of the 14th, the average price of HRB400 thread steel in the Jiangsu, Zhejiang and Shanghai regions was about 4,016.67 RMB/ton, a decrease of 0.66% compared to the beginning of the week; the average high line price of HPB300 in the Jiangsu, Zhejiang and Shanghai regions was 4,278 RMB/ton, a decrease of 1.82% compared to the beginning of the week.
Analysis review
Market: As the weekend approaching, the national engineering demand was 76280 tons, a 5.5% increase compared to the previous trading day and a 15.5% decrease compared to the same period last week. From January to February, the national investment in real estate development reached 1,366.9 billion RMB/ton, a year-on-year decrease of 5.7%; Among them, residential investment reached 1,027.3 billion RMB/ton, a decrease of 4.6%. From January to February, the construction area of real estate development enterprises' houses was 7,502.4 million square meters, a year-on-year decrease of 4.4%. From January to February, the sales area of commercial housing was 151.33 million square meters, a year-on-year decrease of 3.6%, with residential sales area decreasing by 0.6%.
Inventory and Production: This week's rebar and wire rod production increased and total inventory decreased.
On the upstream side, the coke market was temporarily operating steadily; The port iron ore was weak and fluctuated; The range of decline in the scrap steel market had narrowed, with some regions still experiencing a decline. At present, some steel mills are gradually undergoing maintenance or production reduction, and the amount of resources invested may decrease, there is little pressure on inventory of merchants. The rebar future stopped falling and rebounded in the night market, and merchants' mentality improved.
Market outlook
As the weekend approaches, there may be some release of terminal stocking demand, but the overall demand follow-up is slow, and it is expected that the domestic rebar and wire rod prices will mainly fluctuate at low levels in the short term.
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