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Rebar Prices Rose Slightly on June 22

June 23, 2021

On June 22, the latest price of rebar in Jiangsu, Zhejiang and Shanghai was 4,822.22 yuan/ton, down 1.27% from the previous trading day, up 8.88% from the beginning of the year, and up 34.89% year-on-year.

Analysis review

The mainstream price of rebar has fallen sharply. As of the 22nd, the base prices of rebars such as Huanghai, Binxin, Guixin and Xinsanzhou were mostly around 4,760 yuan/ton, and the base prices of Zhongtian and Yonggang were 4,840-4,880 yuan/ton.

Affected by the news, iron ore and futures rebar have fallen sharply in recent days, dragging down the spot market.

Market outlook

At present, the off-season has obvious effects, demand is gradually weakening, while steel mill output remains high. In the short term, inventory pressure will gradually increase, and the mentality of merchants to cut prices to ship dominates. It is expected that the rebar market will still have some downside space in the short term.