SunSirs: Rebar Prices Rose Slightly on July 8
July 09 2021 14:23:00 SunSirs (John)
Price trend
On July 8, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 4,971.78 RMB/ton, an increase of 0.42% from the previous trading day and an increase of 38.73% from the beginning of the month.
Analysis review
The mainstream prices of rebar have risen sharply. At present, the base prices of rebars such as Huanghai, Yinxin, Guixin and Xinsanzhou are mostly around 4,940 RMB/ton, and the base prices of Zhongtian and Yonggang are 5,030-5,070 RMB/ton.
The market opened in the morning on the 8th, and mainstream resources were bidding steadily, and some resources were slightly increased by 10-20 RMB/ton. As prices continued to rise, market feared of high sentiment breed, and transactions continued to be sluggish, the basis for pushing up prices was not solid. Once the futures market adjusts, the spot price will follow suit and pull back.
Market outlook
The upward momentum of the rebar market is expected to narrow in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2026-09-30 SunSirs: Steel De-stocking Continues; Raw Material Outlook Weakens
- 2026-09-28 SunSirs: The Residual Momentum from Pre-Holiday Restocking Was Limited, and Pressure from Accumulating Inventories of Rebar and Wire Rod Is Mounting for the Post-Holiday Period
- 2026-09-21 SunSirs: With Simultaneous Growth in Supply and Demand and Ongoing Inventory Destocking, Prices for Rebar and Wire Rod Were Fluctuating
- 2026-09-18 SunSirs: CISA: Output of Key Steel Enterprises Declined Year-on-Year and Month-on-Month in August
- 2026-09-18 SunSirs: Analysis of the Impact of Steel Supply, Demand, and Inventory Data on Market Trends This Week
