SunSirs: The Rebar and Wire Rod Prices Were Adjusted Narrowly This Week (July 17-21)
July 24 2023 09:48:34 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the prices of rebar and wire rods in the Jiangsu, Zhejiang and Shanghai regions underwent a narrow adjustment this week. As of the 21st, the average price of HRB400 rebar in the Jiangsu, Zhejiang and Shanghai regions was about 3,656.67 RMB/ton, an increase of 0.18% compared to the beginning of the week; the average high line price of HPB300 in the Jiangsu, Zhejiang and Shanghai regions was 3,874 RMB/ton, a decrease of 0.26% compared to the beginning of the week.
Analysis review
Market aspect: As the weekend approached, the national engineering demand was 60,035 tons, with a 4.16% increase in demand compared to the previous trading day. In the first half of the year, the national real estate development investment was 5,855 billion RMB, a year-on-year decrease of 7.9% (calculated based on comparable standards, see Note 6 for details); Among them, residential investment reached 4,443.9 billion RMB, a decrease of 7.3%. In the first half of the year, the construction area of real estate development enterprises' houses was 791,548 million square meters, a year-on-year decrease of 6.6%. Among them, the residential construction area was 5,570.83 million square meters, a decrease of 6.9%. The newly constructed area of houses wais 498.8 million square meters, a decrease of 24.3%. Among them, the newly constructed residential area was 363.4 million square meters, a decrease of 24.9%. The completed area of houses was 339.04 million square meters, an increase of 19.0%. Among them, the completed residential area was 246.04 million square meters, an increase of 18.5%.
Inventory and Production: This week, the weekly production of rebar and wire rods slightly increased, the total inventory of rebar slightly increased, and the total inventory of wire rods had slightly decreased.
On the upstream side, the third round of increase in the coke market of 100-110 RMB/ton had been fully launched; Port iron ore fluctuated and consolidated; The scrap steel market remained stable overall. This week, the price of the rebar and wire rod was generally stable, with slight adjustments. Although the upstream coke rose in the third round, there was widespread rainfall, and there were few procurement plans for the construction site, and spot transactions was unsatisfactory.
Market outlook
It is expected that in the short term, the price of rebar and wire rob will be mainly stable and sorted out.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
