SunSirs: The Spot Prices of Wire Rod and Rebar Fluctuated within a Narrow Range on July 20
July 21 2022 09:12:11 SunSirs (John)
Price trend
On July 20, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 3,841.11 RMB/ton, up 0.12% from the previous trading day and down 25.27% from the same period last year. On July 20, the price of wire rod in Jiangsu, Zhejiang and Shanghai was 4,214 RMB/ton, up 0.19% from the previous trading day and down 21.67% from the same period last year.
Analysis review
On July 20, although the wire rod and rebar futures market rebounded slightly, it did little to boost the spot market. The spot wire rod and rebar were relatively stable, and prices were mainly running in a consolidation. Mainly due to the lack of enthusiasm for terminal purchases, it was difficult to push up prices.
The current off-season features are obvious, and the overall demand performance is not good. At the same time, the price of raw materials has not stopped falling, which still has a certain negative impact on market sentiment.
Market outlook
In general, the price of construction steel is supported at a low level, but the upward momentum is insufficient. It is expected that the wire rod and rebar will fluctuate in a narrow range in the short term.
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