SunSirs: The price of wire rod and rebar fluctuated this week (04.17-04.24)

1. Price Trend
According to SunSirs price monitoring, this week (04.17-04-24) the price of spiral wire rods fluctuated. Today, HRB400 rebar mainstream quotes from major manufacturers are around 3440-3490 yuan / ton, down 20 yuan / ton from last Friday. HRB300 wire rod mainstream quotes are around 3560-3590 yuan / ton, down about 45 yuan / ton from last Friday. On the whole, the prices of wire rod and rebar have dropped compared with last week.

2. Influencing factors:

In terms of supply and demand: today, some general billets in Tangshan are quoted at 3090 yuan / ton, and the prices are stable; for today, the social stock of rebar is 1524. In 63 months, it was 5.6% lower than last week and about 90%, and the total supply of wire stock Judging from the statistics of the China Iron and Steel Association, the average daily output of crude steel from key steel companies was 195.15 in mid-April, with a volume increase of 50,700 tons and an increase of 0.29%. The steel stocks of key steel companies were 1742.03 hours, an initial decrease of 53.09 times month-on-month, and a decrease of 2.96%. The average daily output of crude steel of key steel companies continued to increase, while the stocks declined slowly, indicating that the pressure on the supply side still exists. However, the recent trend of raw material prices has stopped falling and rebounded, the center of cost has moved upwards, steel mills have strong intentions to lock prices, and there is limited downside space for steel stocks. It is expected to consolidate in the short term.

Market: At the beginning of this week, due to the turbulence in the futures market, merchants walked at any time, the mood was low, the price of the spiral fell slightly, and the transaction performance was also quite poor. As of Wednesday, the price of spot resources stopped falling and stabilized. In the face of high inventory pressure, most businesses were mainly expected, and the transaction volume increased slightly. On Thursday, it suffered from the good performance of the previous day's trading volume. The price continued to rise, but the proportion of rebar and wire rod prices rose slightly. Looking at the national market today, the price of rebar is stable and weak. Most of the terminals are mainly on-demand purchases. The overall transaction performance is average, and merchants are on the sidelines.

In the future: Wire and rebar futures oscillated this week. After weak decline, they stopped falling and stabilized, consolidating again at a low level today. 13 yuan / ton.

3. Future market forecast:

In the four months since entering, steel prices have achieved upward breakthrough in repeated shocks. At present, the market has obviously reduced the decline momentum, and the output of steel mills continues to increase, inventory pressure continues to increase, and the process of destocking is further extended. It is expected that the prices of wire rod and rebar will be weakly consolidated in the short term.

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