SunSirs: Rebar Prices Fell Weakly on December 16
December 17 2019 10:38:12 SunSirs (John)
On December 16, the price of rebar fell weakly, about 20 RMB/ton lower than last Friday (December 13). Today, the major mill quotations of rebar are between 3,890-3,960 RMB/ton. Last week, the price of thread fell slightly. As the price continued to fall, the market mentality became cautious.
In terms of supply, the ex factory price of Tangshan plain steel billet fell by 20 RMB/ton on weekends, and fell by 10 RMB/ton this afternoon to 3,340 RMB/ton. As of December 13, the total social inventory of rebar was 4.26 million tons, an increase of 0.57% over the previous week's ring ratio, about 24,000 tons. The output of the steel plant continues to increase slightly, but the increase is small. Due to the limited production and maintenance of environmental protection policy at the end of the year, it is expected that the overall output increase will not change greatly in the later period.
In terms of futures, today's futures rebar is running at a low level. The main rebar contract 2005 fell 44 RMB/ton from the settlement price of the previous trading day, closing at 3480 RMB/ton.
In terms of market, today, the rebar market in the North has fallen steadily, and the southern market has cut prices on a large scale. Due to the fluctuation and decline of futures rebar, the business sentiment is pessimistic, the downstream demand is accelerating to be weak, the market trading atmosphere is depressed, and the overall trading performance is flat, but the sentiment has eased compared with last week's downturn.
On the whole, futures rebars fluctuated steadily, and downstream demand did not increase enthusiastically. In the near future, rebars will run weakly and consolidate.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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