Short-term increase signal for rebar and wire rod
An increase is expected between February 27 and March 3 due to the intensified demand with the increase in the end consumer and the optimistic mood in the market.
In addition, the fact that rebar stocks in warehouses stopped their eight-week increase also supported prices.
As of February 23, according to data released by Chinese research companies, rebar stocks at 429 warehouses in 132 Chinese cities amounted 13.1 million tons, down by 1,600 tons weekly.
In the sheet metal market, expectations are slightly downward for the short term
HRC prices may decrease
It may decrease in the week ending March 3 because many traders have created the expectation of compromising prices to facilitate sales as manufacturers make more deliveries.
In CRC, the expectation is horizontal or slightly downward
Since the spot trading volume is lower than expected, the price may be horizontal or slightly downward this week. In addition, it is thought that the stocks in the warehouses will also have an impact on prices.
As of February 23, according to data released by research companies of Chinese origin, cold roll stocks in 182 warehouses in 29 cities of China have reached 2.2 million tons, despite a weekly decrease of 24,700 tons.
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