SunSirs：Rebar Price operate smoothly
January 10 2020 09:55:25 SunSirs (Molly)
January 8, the national average price of rebar operates smoother than yesterday's. In the morning, part of the specification of the rebar rise a little bit; at afternoon, price tends to be stable. The main thread quote in large factory is between 3720-3760 yuan/ton. As the Spring Festival close, the market trading atmosphere is cold and quiet, steel mills and businesses have begun to start winter storage policy, so the price will not have a large rise and fall change.
Supply aspect, in Tangshan today, the price of billet up 10 yuan/ton to 3320 yuan/ton, as of January 3.The total social inventory of rebar steel is 5.097 million tons, compared with last week's increase of 10.5% about 480,000 ton. Due to the overall decline in demand, the contradiction between supply and demand intensified led to the acceleration of the overstock.
Futures aspect, rebar’s main contract 2005 fluctuate increase, compared to the last trading day settlement price rose 48 yuan/ton and then finally offer 3617 yuan/ton. Market aspect, the price of rebar in some northern cities has been slightly decreased, but overall the national average price is relatively stable, because of the approaching Spring Festival, downstream demand accelerated cooling; transaction is more insipid; merchants are holding a wait-and-see attitude, preparing for winter storage.
In general, due to the aggravation of the contradiction between supply and demand and social inventory continues to increase, only the futures market is good, so rebar prices can be supported. Near the end of the year, demand fell to the freezing point, therefore, price adjustment on the market transaction has small impact, rebar prices in the short term maybe will consolidate operation.
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