SunSirs: This Week, Rebar and Wire Rod Prices Rose First and Then Fell (August 21-25)

Price trend

According to the price monitoring of SunSirs, the prices of rebar and wire rod in the Jiangsu, Zhejiang and Shanghai regions increased first and then decreased this week. As of the 25th, the average price of HRB400 rebar in the Jiangsu, Zhejiang and Shanghai regions was about 3,679.56 RMB/ton, an increase of 0.91% compared to the beginning of the week; The average price of high line HPB300 was 3,875.2 RMB/ton, an increase of 0.99% compared to the beginning of the week.

Analysis review

Market aspect: As the weekend approached, the national engineering demand was 65,432 tons, a 3.75% decrease in demand compared to the previous trading day. From January to July, the construction area of real estate development enterprises' houses was 7,996.82 million square meters, a year-on-year decrease of 6.8%. Among them, the residential construction area was 563,026 million square meters, a decrease of 7.1%. The newly constructed area of houses was 569.69 million square meters, a decrease of 24.5%. Among them, the newly constructed residential area was 415.46 million square meters, a decrease of 25.0%. The completed area of houses was 384.05 million square meters, an increase of 20.5%. Among them, the completed residential area was 279.54 million square meters, an increase of 20.8%.

This week, the weekly production of rebar decreased slightly, while the weekly production of wire rod increased slightly; The total inventory of rebar and wire rod had slightly decreased.

On the upstream side, the coke market remained stable after a decline; Port iron ore fluctuated and consolidated; The scrap steel market continued to rebound partially. The game between coke enterprises and steel mills continued, and the first round of coke reduction by steel mills in various regions had not yet been successfully implemented.

Market outlook

As the weekend approached, the futures rebar and wire rod market was fluctuating and weakening. Although manufacturers were willing to increase prices, demand had not increased, and merchant confidence was being suppressed. It is expected that in the short term, the price of rebar and wire rod will mainly operate in a stable and weaker trend.

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