Price trend:

According to data from SunSirs, the prices of rebar and wire rod in the Jiangsu, Zhejiang, and Shanghai regions fluctuated narrowly this week. As of the 26th, the average price of HRB400 rebar in the Jiangsu, Zhejiang, and Shanghai regions was approximately 3,181.66 RMB/ton, up 1.05% from the beginning of the week; the average price of HPB300 high-strength wire rod was 3,350 RMB/ton, up 0.75% from the beginning of the week.

Market Analysis

On the 25th, national construction material transactions totaled 101,300 tons, with spot trading activity weakening somewhat. The finished steel inventories had significantly eased after several weeks of destocking, with construction materials exhibiting a weak supply and demand pattern, effectively releasing inventory pressure, and the price difference between hot rolled coil and rebar narrowing significantly.

Market outlook

With the traditional off-season approaching, it was crucial to monitor market sentiment and inventory changes. Steel plates faced a situation of strong supply and demand, with high supply leading to persistent inventory pressure. If demand for construction materials weakens later, steel plate manufacturers may need to reduce production to alleviate inventory pressure. It is recommended to continuously monitor the extent of steel production cuts and the recovery of profit margins.

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