SunSirs: Analysis on Spot Price of Wire Rod and Rebar on December 14
December 15 2022 13:37:44 SunSirs (John)
Price trend
On December 14, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 3,874.44 RMB/ton, down 0.06% from the previous trading day and 18.68% year on year. On December 14, the quoted price of wire rods in Jiangsu, Zhejiang and Shanghai was 4,164 RMB/ton, down 0.43% from the previous day and 15.98% year on year.
Analysis review
Wire rod quotations in most regions of China were stable, while spot prices in some regions were slightly loose. The market heard that the steel mill stopped production, and the wire rod price was supported. However, at the end of the year, in the off-season background, the market showed a pattern of both supply and demand decline. In addition, traders' enthusiasm for winter storage was not very high, and most of them were passive for winter storage. Therefore, in the absence of the cooperation of trading volume, with the acceleration of inventory accumulation, the risk aversion mood of merchants was dominated.
Market outlook
It is expected that the price of wire rod will be mainly stable with some small changes.
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