SunSirs: On December 15, Spot Prices of Wire Rod and Rebar Rose Sharply
December 16 2022 13:57:48 SunSirs (John)
Price trend
On December 15, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 3,942.22 RMB/ton, up 1.75% from the previous trading day and down 17.04% year on year. On December 15, the price of wire rods in Jiangsu, Zhejiang and Shanghai was 4,244 RMB/ton, up 1.92% from the previous trading day and down 14.3% year on year.
Analysis review
Influenced by the macro and financial aspects recently, black series futures had risen strongly. In addition, the price of raw materials had a strong trend, and the demand side of some regions had slightly warmed up. In the short term, prices tended to rise but not fall. The inventory of wire rod and deformed steel bar has declined, and the current market confidence is high.
Market outlook
In the short term, the domestic wire rod and deformed steel bar prices may continue to operate strongly.
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