Price trend

According to the price monitoring of SunSirs, as of March 4, the prices of rebar and wire rod in Jiangsu, Zhejiang and Shanghai rose first and then fell this week. As of the 4th, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 4,856.67 RMB/ton, up 1.63% from the beginning of the week; the average price of HPB300 high wire was 5,000 RMB/ton, up 1.09% from the beginning of the week.

Analysis review

Approaching the weekend, the price of high wire was generally flat. The prices of wire Ф6.5-10mm of Jiujiang, Beitai, etc were at 4,830-4,880 RMB/ton; the mainstream price of rebar was consolidating. On the 4th, the base price of rebars of Huanghai, Binxin was around 4,710-4,760 yuan, and the price of some qualified rebar was around 5,010 RMB/ton; The price of Zhongtian, Yonggang’s rebars were quoted at 4,850-4,900 RMB/ton.

This week, due to the sharp rebound of raw materials, the steel mills took advantage of the trend to push up the ex-factory price, and the spot price continued to rise. At high market levels, the transaction of supply sources weakened, and terminal purchases slowed down significantly. As temperatures gradually rose, demand picked up and prices rose. As of the weekend, due to the correction of futures rebar, the market sentiment decreased and prices fell slightly.

Market outlook

It is expected that the wire rod and rebar will maintain volatile trend at a high level.

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