Price trend
On February 15, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 4,818.89 RMB/ton, down 1.83% from the previous trading day. The wire rod in Jiangsu, Zhejiang and Shanghai was reported 4,972 RMB/ton, down 1.62% from the previous trading day.
Analysis review
On February 15, the 16-25mm specification of rebar was quoted at 4,850-4,890 RMB/ton, and the mainstream price of high wire of large factories was around 5,130 RMB/ton.
In view of the recent weak trend of raw materials, there is a certain drag on the prices of finished products. Considering that the current local spot terminal has not fully resumed work, the overall demand is still weak. However, after the Lantern Festival, downstream terminals may be released one after another. And the current relatively low supply and inventory still have some support for the market.
Market outlook
Wire rod and rebar prices are expected to have limited room to fall.
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