SunSirs: Supply and Demand Were Weak, the Price of Wire Rod and Rebar Continued to Fall
November 03 2021 14:16:24 SunSirs (John)
On November 2, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 5,074.44 RMB/ton, down 1.34% from the previous trading day, up 14.57% from the beginning of the year, and up 34.1% year-on-year. The Jiangsu-Zhejiang-Shanghai wire rod price was 5,326 RMB/ton, a slight drop of 2.6% from the previous trading day, an increase of 15.78% from the beginning of the year, and a year-on-year increase of 28.6%.
On November 2, the price of High-speed Wire Rod dropped sharply. The price of the Ф6.5-10mm High-speed Wire Rod in Jiujiang and Beitai was 5,100-5,150 RMB/ton; the mainstream price of rebar fell sharply. The current base prices of Huanghai and Binxin were around 4,900-4,960 yuan. , The price of some qualified Coil Rebar was around 5,240 yuan; the ex-factory price of Coil Rebar from Zhongtian, Yonggang, etc. was 5,020-5,080 RMB/ton, and the grade difference of the Coil Rebar was about 300-380 yuan.
Fundamental supply and demand were weak, transactions were weak, terminals were not willing to get goods, and market trading atmosphere was seriously insufficient. Taking into account the impact of cold air in the later period, the demand side will become weaker, it is expected that the price of wire rod and rebar will continue to be weak in the short term.
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