SunSirs: The Price of Wire Rod and Rebar Was Flat This Week (January 9-13)
January 17 2023 10:45:54 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, as of January 13, the prices of rebar and wire rod in Jiangsu, Zhejiang and Shanghai were mainly stable this week. As of the 13th, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 4,063.33 RMB/ton, which was the same as that at the beginning of the week; as of January 13, the average price of HPB300 high line in Jiangsu, Zhejiang and Shanghai this week was 4,330 RMB/ton, unchanged from the beginning of the week.
Analysis review
Market:
As of the weekend, the national engineering demand was 7,467 tons, 37% lower than the previous trading day and 76.7% lower than the same period last week. From January to November, the national real estate development investment was 12,386.3 billion RMB, down 9.8% year on year; Among them, residential investment was 9,401.6 billion RMB, down 9.2%. From January to November, the housing construction area of real estate development enterprises was 8,968.57 million square meters, down 6.5% year on year.
Inventory and production
This week, the total inventory of rebar and wire rod increased, and the weekly output decreased.
Most domestic construction steel quotations were mainly stable. In some regions, the spot price of the merchants in operation had increased by taking advantage of the trend, but the actual transactions were very few, and the market was mostly showing a having price but no buyers state. With the Spring Festival approaching, most markets had entered a closed state, and price fluctuations had little significance.
Market outlook
It is expected that the price of wire rod and rebar will be adjusted horizontally.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
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- 2023-12-05 SunSirs: On December 4th, a Summary of Black Metal Trading on the Shanghai Futures Exchange
- 2023-11-28 SunSirs: This Week, the Prices of Wire Rod and Rebar Slightly Decreased (November 20-24)
