11 steel mills cut prices, future price of steel bars fell below 3,600, will the price of rebars keep fall?
On August 9, the spot prices of all black steels plummeted across the board. The decline of the price of building materials spot market expanded. As the price of the market weakened, the suppliers' willings to sell the steels was strong, the market price continued to be low, and the end-users wait and see the market, so the transaction performance was average. In terms of inventory, the overall market's inventory continued to increase from last week.
On August 9, a total of 11 steel mills across the country issued price adjustment information, with a cumulative adjustment range of RMB-60 to 0 per ton.
Construction steel: On the 9th, domestic construction steel prices fell sharply. The average price of rebar in major cities was 3,865 yuan/ton, down 47 yuan/ton from the previous trading day. From the recent situation, the steel demand level is still moving downwards. Although the steel supply is also falling, the magnitude is not large, the accumulation of steel stocks is relatively fast. It is expected that the short-term market will not stop falling. Shanghai All Win Iron & Steel company will continue to adjust the situation in a weak position.