We welcome potential buyers to contact us.
TIANJIN GOLDENSUN I&E CO.,LTD

September steel demand situation

The steel market has not ushered in a “good start” in September. The current prices of rebar (5408, 125.00, 2.37%) have both declined, but today there has been a slight increase. On September 2, the main rebar futures contract on the Shanghai Futures Exchange fluctuated up, closing at 5,273 yuan/ton, an increase of 11 yuan/ton, or 0.21%. According to the monitoring data of the Lange Steel Cloud Business Platform, on September 2, the average price of Grade 3 rebar (Φ25mm) in the top ten major cities in China was 5223 yuan/ton, a slight increase of 7 yuan/ton from the previous day.

Steel.com senior analyst said that the reason why September did not usher in a good start was mainly because the demand started less than expected and the recently announced PMI data was not ideal. Although there was a wave of price increases in steel prices in July and August, the actual sales volume was limited, coupled with high costs, and high financial pressure. It also coincided with the problem of capital turnover at the end of the month and the beginning of the month, resulting in increased volatility on the rebar futures disk. The market has a strong bearish atmosphere.

First of all, from the perspective of demand, due to floods, multiple epidemics, and seasonal off-season, steel demand in July and August dropped sharply. With the advent of September, climatic conditions have improved, the domestic epidemic has basically been lifted, and the issuance of local special bonds has been accelerated. The start of major projects in various regions has improved significantly, and the demand for construction steel will show a significant improvement.


Post time: Sep-03-2021
WhatsApp Online Chat !