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SunSirs: Spot Prices of Wire Rod and Rebar Fell Weakly on August 29

Time:2022-08-31

On August 29, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 4,082.22 RMB/ton, down 1.71% from the previous trading day and down 19.9% from the same period last year. The price of wire rods in Jiangsu, Zhejiang and Shanghai was 4,354 RMB/ton, down 1.98% from the previous day and down 19.49% from the same period last year.


Analysis review


During the weekends, the ex-factory price of billet in Tangshan, Hebei remained flat, at 3,770 RMB/ton. The construction steel prices of a few steel mills in North China, East China, and Southwest China were lowered, mainly because the prices in the business market were stable and falling, and the terminal demand was cold.Last weekend, the futures night trading fluctuated and weakened, and the guide price of major steel companies was lowered by 20 yuan / ton. Affected by this, the market sentiment was not good, the spot price of thread was running weakly, the price weakened again, the enthusiasm of end users to purchase decreased, and the market was in wait-and-see state.


Market outlook


Demand is sluggish, and wire rod and rebar prices are expected to remain low and fluctuating.

From:SunSirs