SunSirs: The Prices of Wire Rod and Rebar Fell Slightly This Week ((January 3-6)

Price trend

According to the price monitoring of SunSirs, as of January 6, the prices of rebar and wire rods in Jiangsu, Zhejiang and Shanghai fell mainly in shock. As of the 6th day, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 4,057.78 RMB/ton, down 0.38% from the beginning of the week. As of the 6th day, the average high line price of HPB300 in Jiangsu, Zhejiang and Shanghai was 4,336 RMB/ton, down 0.32% from the beginning of the week.

Market

As of the weekend, the national engineering demand was 29,889 tons, down 15.9% compared with the previous trading day and down 38.8% from the same period of last week. From January to November, the national real estate development investment was 12,386.3 billion RMB/ton, down 9.8% year on year; Among them, the residential investment was 9,401.6 billion RMB/ton, down 9.2%. From January to November, the construction area of real estate development enterprises was 8,968,570,000 square meters, down 6.5% year on year.

Inventory and production

The total inventory and weekly output of rebar and wire rods decreased this week.

On the upstream side, the coke market was temporarily stable; Port iron ore shock weakened; Scrap steel market rose partly. As the Spring Festival was approaching, most markets were closed one after another, and the market activity was not high, businesses had no intention to cut prices. At the same time, due to the shortage of some specifications in some areas and the low inventory, the price was relatively firm. With the gradual end of the rigid demand, the demand continued to shrink, and the market gradually entered a state of having price but no buyers in the short term.

Market outlook

It is expected that in the short term, the price of wire rod and rebar will mainly fluctuate in a narrow range.

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