According to price monitoring, as of October 11, the spot ф16mm three grade rebar (distribution) average $699/ton, compared with this week Zhou Yan (10.8), the price fell slightly by $1.54/ton. At present, rebar market mainstream offer concentrated in $685-$692 yuan/ton. From the rebar price curve, rebar prices have a downward trend, the recent market sentiment is poor.
September peak season is not prosperous, rebar procurement is significantly weaker than last year, the spot deal is also the overall weakening, the actual demand for support rebar price rise has not caught, traders watching mood increases, the market mentality to cool, demand is less than expected. During the national day, rebar passive inventory rise, but the absolute level of inventory is still low, the increase is lower than the same level last year. The National day period of the library is a normal seasonal performance, inventory in previous years there has been a chain-up situation, and this year's inventory accumulation level is basically flat with last year.
Rebar analysts believe that rebar raw materials and the trend of the sharp differentiation of raw materials, relatively strong, moving under the vibration of the weak speed, and Sino-US trade friction also affected the decline in futures prices. If rebar future demand is still not "expected to redeem", the market sentiment will be negative. In late October, after formally entering the heating season, rebar prices or expected to start to rebound. (Article Source: Business Club)