SunSirs: The Arrival of Resources Increased, and the Prices of Wire Rod and Rebar Fell Slightly This Week (October 8-14)
October 17 2022 10:52:29 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, as of October 14, the prices of rebar and wire rod in Jiangsu, Zhejiang and Shanghai fell slightly this week. As of the 14th, the average price of HRB400 rebar in Jiangsu, Zhejiang and Shanghai was about 3,945.56 RMB/ton, down 2.23% from the beginning of the week; the average price of high line HPB300 in Jiangsu, Zhejiang and Shanghai was 4,194 RMB/ton, down 2.23% from the beginning of the week.
Analysis review
Market: According to the data of the National Bureau of Statistics, from January to August, the national real estate development investment was 9,080.9 billion RMB/ton, down 7.4% year on year; Among them, the residential investment was 6,887.8 billion RMB/ton, down 6.9%. As of the weekend, the national engineering demand was 149,279 tons, up 127.2% from the same period last week. The project demand PMI was 66, which was good.
Inventory and production: The total inventory and weekly output of rebar and wire rod decreased this week.
In the upstream, coke is temporarily stable; The price of iron ore at the port weakened slightly; Scrap steel continued its weak decline, and the decline narrowed; The profit of the blast furnace was 107 RMB/ton, decreasing by 25 RMB/ton; The profit of electric furnace was 60 RMB/ton, decreasing by 10 RMB/ton. Near the weekend, the demand for goods at the terminal was released slightly. Recently, the arrival of resources was increasing. In the early stage, the price that was raised due to the shortage of specifications returned to a low level, and the merchants reduced the price to ship.
Market outlook
It is expected that the wire rod and deformed steel bar will mainly fluctuate in narrow range in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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