SunSirs: On December 2, Spot Prices of Wire Rods and Rebar Fell Slightly
December 05 2022 11:32:44 SunSirs (John)
Price trend
On December 2, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 3,765.56 RMB/ton, down 0.06% from the previous trading day and 18.93% year on year. On December 2, the wire rod price in Jiangsu, Zhejiang and Shanghai was 4,140 RMB/ton, down 0.72% from the previous day and down 15.99% year on year.
Analysis review
In terms of cost, the second round of coke increase was gradually implemented; Port iron ore price was consolidated; the scrap was continued to be stable and strong. As the temperature across the country plummeted, transactions around the country gradually weakened, and the inflection point of inventory loomed.
Market outlook
Under the condition of strong cost and weak demand, it is expected that the domestic wire rod and rebar prices will remain mainly fluctuate slightly in the short term.
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