At the beginning of this week, in the rebar futures market, the 2410 contract fell 25 yuan/ton (4 USD) to close at 3,763 yuan/ton (529 USD), which means a decrease of 0.66%. There was also a slight decrease in prices and trading volume in the spot market.
According to Steel Radar's evaluation, an increase was recorded after the decrease. θ12-32 mm rebar prices were recorded at 513 USD on May 30, showing a sharp increase compared to 499 USD on May 29.
This week, national stocks of social main steel products decreased by 105,500 tons compared to last week and by 1.357 million tons compared to the previous month, decreasing to the level of 12.79 million tons. Rebar stocks totaled 5.71 million tons.
Rebar prices are expected to continue to fluctuate within a narrow range in the short term due to the shift in demand from the peak season to the off-season period and the pressure on supply and demand. Although real estate policies remain loose, it is observed that the issuance of special government bonds has increased market expectations and macroeconomic expectations still have a significant increasing effect on rebar prices.
This situation creates a balance in the rebar market that needs to be carefully monitored on both the supply and demand sides. While prices are expected to remain stable in the short term, macroeconomic policies and market conditions are thought to be decisive on rebar prices in the long term.
Comments
No comment yet.