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SunSirs:Rebar prices have increased slightly (04/07)

April 08 2020 08:47:46     SunSirs (Molly)

On April 7, the national average price of rebar rose slightly from last Friday, with a price of around 3390 yuan / ton and an adjustment range of about 10 yuan / ton. Today mainstream thread offer prices from major manufacturers are between 3410-3460 yuan / ton.

Supply : As of last Friday, the total rebar social stocks decreased by 4% from last week by approximately 754,400 tons, and the stocks were still high compared with the same period in previous years. And due to the falling prices of raw materials, it is expected that steel mills will expand production, and the rate of inventory digestion will slow down in the future.
Futures: Today's futures rebar first rose and then fell. The main thread 2010 contract finally closed at 3206 yuan / ton, an increase of 3 yuan / ton from the settlement price of the previous working day.
Market: inventory remains high, and merchants' mindset is mainly shipment. Overall, the transaction performance was average, and the release of demand was less than expected.

In summary, the rebar price lacks upward momentum. SunSirs analysts expect rebar prices to fluctuate weakly in the short term.

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