SunSirs: The Price of Rebar and Wire Rod Fluctuated This Week (July 10-14)
July 17 2023 13:45:41 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, as of July 14th, the prices of rebar and wire rods in the Jiangsu, Zhejiang and Shanghai regions fell first and then rose this week. As of the 14th, the average price of HRB400 rebar in the Jiangsu, Zhejiang and Shanghai regions was about 3,665.56 RMB/ton, an increase of 0.52% compared to the beginning of the week; the average high line price of HPB300 in the Jiangsu, Zhejiang and Shanghai regions was 3,894 RMB/ton, an increase of 0.1% from the beginning of the week.
Analysis review
Market aspect: As the weekend approached, the national engineering demand was 65,372 tons, a 3.2% decrease compared to the previous trading day. From January to May, the national investment in real estate development reached 4,570.1 billion RMB, a year-on-year decrease of 7.2%. The construction area of real estate development enterprises' houses was 779,506 million square meters, a year-on-year decrease of 6.2%. Among them, the residential construction area was 5,484.75 million square meters, a decrease of 6.5%. The newly constructed area of houses was 397.23 million square meters, a decrease of 22.6%. Among them, the newly constructed residential area was 290.1 million square meters, a decrease of 22.7%. The completed area of houses was 278.26 million square meters, an increase of 19.6%. Among them, the completed residential area was 201.94 million square meters, an increase of 19.0%.
Inventory and Production: This week, the weekly production of wire rods and rebar decreased slightly, the total inventory of rebar increased slightly, and the total production of wire rods decreased slightly.
On the upstream side, the second round of increase of 50-60 RMB/ton in the coke market had not been implemented yet; Port iron ore continued to rebound; Some regions of the scrap steel market had shown a strong upward trend.
Market outlook
The high temperature affected sales, causing manufacturers to waver in their mindset. The high temperature and heat also suppressed downstream demand. It is expected that in the short term, the price of rebar and wire rod will continue to operate mainly in a range of fluctuations.
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