Last week, domestic steel diving, Shagang significantly reduced the ex-factory prices at the end of the week, the market mentality or continued pessimism, coupled with the gradual increase in financial pressure at the end of the month, and the continued suppression of demand this week, high-temperature, short-term rebar price decline is still difficult.

Last week, the price of domestic steel products showed a declining trend, and rebar as the lead drop variety appeared. The price fell more than 100 yuan/ton. On the 20th, the average price of rebar in 25 major national markets fell, and the average price of HRB400 20MM rebar was 3,980 yuan/ton, which was a decrease of 27 yuan/ton compared with the price of the previous trading day, and it had fallen by 118 yuan/ton last week.

After experiencing a sharp drop in prices last week, the market’s short-term confidence suffered a severe setback. During the weekend, Sha Steel continued to lower its ex-factory prices, and the decline was also significantly increased. The market mentality may still be difficult to improve. In terms of market inventory, rebar stocks fell slightly last week, and total inventory was still 1.38 million tons higher than the same period of last year, and supply pressure remained high. Most of the country will maintain hot weather this week, and market demand will be difficult to improve. Coupled with the gradual increase in financial pressure at the end of the month, the rebar market is still lacking effective support and short-term prices may continue to maintain the downward trend.