SunSirs: On November 1, Spot Price of Rebar and Wire Rod Was Weak and stable
November 02 2022 10:21:06 SunSirs (John)
Price trend
On November 1, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 3,651.11 RMB/ton, down 0.3% from the previous trading day and down 29.01% year on year. the wire rod price in Jiangsu, Zhejiang and Shanghai was 4,074 RMB/ton, down 0.2% from the previous day and down 25.09% year on year.
Analysis review
On November 1, the price of snails was temporarily stable, with little fluctuation. The overall transaction picked up, especially the transaction of low level resources was good, and the speculative demand of middlemen had also increased significantly. In view of the continuous decline in prices in the early stage, market risks have been released and demand has improved.
Market outlook
At present, the prices of wire rod and rebar are low, and it is expected that the price of wire rod and rebar will be adjusted in a narrow range in the short term.
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