SunSirs: On July 6, the Spot Price of Wire rod and Rebar Fell Slightly
July 07 2022 09:15:23 SunSirs (John)
Price trend
On July 6, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 4,200 RMB/ton, down 0.18% from the previous trading day and down 13.27% year-on-year. The price of Shanghai wire rod in Jiangsu, Zhejiang and Shanghai was 4,566 RMB/ton, down 0.17% from the previous trading day and down 13.67% from the same period last year.
Analysis review
On July 6, the price of the high wire fluctuated and sorted out. The quotations of the Ф6.5-10mm high wire in Jiujiang and Beitai were 4,300-4,340 RMB/ton; the mainstream price of rebar fluctuated slightly, and the base price of Huanghai and Binxin was 4,050-4,090 RMB/ton; On July 6, the ex-factory prices of Zhongtian and Yonggang were 4,170-4,210 RMB/ton.
Market activity is low, transaction performance was sluggish, terminal demand was facing continuous high temperature weather, downstream construction was blocked, and short-term demand side was difficult to have heavy volume, and performance was weak. However, the price of the wire screw had fallen to the cost line, and the room for further downside was limited.
Market outlook
It is expected that the price of wire rod and rebar will be in a dilemma, and will fluctuate within a narrow range in the short term.
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