In the 25 major cities, prices for construction steel and wire decreased by nearly 5% within the past ten days. Similarly, prices for commercial medium-thick plates and hot-rolled sheets also witnessed a decline. Seamless steel tube and angle steel prices also experienced a downturn.
The average price of rebar (HRB 400, 20 mm) in the 25 major cities decreased by approximately 5.0% to 3,582.2 yuan/ton ($496) compared to the previous ten days, marking a decrease of 186.6 yuan/ton.
Wire prices (HPB 300, 6.5 mm) during the same period recorded a decrease of 4.6% to 3,771.7 yuan/ton ($522), indicating a decline of 182.8 yuan/ton.
Prices for commercial medium-thick plates (Q235, 20 mm) decreased by 3.1% to 3,948.3 yuan/ton ($546), resulting in a decrease of 127.1 yuan/ton.
Hot-rolled sheet prices (Q235, 3 mm) also witnessed a decline of 3.6% to 3,817.4 yuan/ton ($528).
The price of seamless steel tubes decreased by 1.4% to 4,613.3 yuan/ton ($639), indicating a decrease of 64.5 yuan/ton. Angle steel prices also decreased by 2.5% to 4,001.5 yuan/ton ($554).
Market participants remain cautious due to high inventory levels and uncertainties in raw material prices. Therefore, steel prices are expected to fluctuate periodically in the short term. The direction of price movements will depend on demand and supply dynamics.
An unexpected increase in demand or a sharp rise in raw material prices may lead to a rebound in steel prices. Conversely, economic uncertainties and weak demand could further drive prices down.
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