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Wire Rod Rebar News
SunSirs: Stocking Up before the Holiday, Wire Rod and Rebar Prices Fell First and Then Rose This Week (September 19-23)
September 26 2022 09:48:30SunSirs(John)

Price trend

According to the price monitoring of SunSirs, as of September 23, the prices of rebar and wire rods in Jiangsu, Zhejiang and Shanghai fell first and then rose this week. As of the 23rd, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 3,933.33 RMB/ton, up 0.42% from the beginning of the week; the average price of HPB300 high line was 4,114 RMB/ton, down 0.44% from the beginning of the week.

Analysis review

Market: Data from the National Bureau of Statistics shows that from January to August, the national real estate development investment was 9,080.9 billion yuan, down 7.4% year-on-year; of which, residential investment was 6,887.8 billion yuan, down 6.9%.As of the weekend, the national engineering demand was 149,279 tons, up 127.2% in the same period last week. Engineering demand PMI was 66, the demand was good.

Inventory and production

The total inventory of rebar and wire rod continued to decline this week, and the weekly output increased. On the upstream side, the prices of raw materials fluctuated. Among them, the prices of domestic mines in various regions fluctuated, and the coke market was relatively strong. The leading coke enterprises started the first round of increase, which has not yet been implemented; the decline of scrap steel slowed down, and its price rose in some areas. In view of the relatively obvious rebound in domestic steel prices, the profits of steel mills have improved.

Market outlook

It is expected that domestic wire rod and rebar prices may fluctuate to be strong in the short term.

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