Price trend

According to the price monitoring of SunSirs, as of November 11, the prices of rebar and wire rods in Jiangsu, Zhejiang and Shanghai had risen by shock this week. As of November 11, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 3,761.11 RMB/ton, up 0.86% from the beginning of the week; HPB300 high line average price was 4,194 RMB/ton, up 0.96% from the beginning of the week.

Analysis review

Market: As of the weekend, the national engineering demand was 70,542 tons, down 23.8% from the previous day and down 21.2% from the same period last week. From January to September, the construction area of real estate development enterprises was 8,789.19 million square meters, down 5.3% year on year.

Inventory and production: The total inventory and weekly output of rebar and wire rod continued to decline this week.

In terms of upstream, the third round of coke lifting and lowering was implemented, with a reduction of 100-110 RMB/ton; The port iron ore price had slightly rebounded; The scrap price remained stable. Near the weekend, there may be a certain demand for goods stock in the downstream. The demand for goods in the terminal has been released slightly, and the speculative demand of middlemen has also rebounded. At present, the epidemic situation in China is spreading in many places, which has a great impact on logistics transportation and terminal demand. The market sentiment is generally not smooth.

Market outlook

It is expected that the prices of wire rods and rebar will remain fluctuate in a narrow range mainly in the short term.

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