Hunan construction steel continues to rise this week, inventory fell by 7.88%
Date: 2021-11-26
Hunan construction steel continues to rise this week, inventory fell by 7.88%
【Market Summary】
On November 25, the price of construction steel in Hunan increased by 40 yuan/ton, of which the mainstream transaction price of rebar in Changsha was 4780 yuan/ton. This week, inventory fell by 7.88% month-on-month, resources are highly concentrated, and merchants have a strong willingness to buy prices.
Specifically, Masukura, the main 05 contract of snails, rose, with a closing price of 4255 yuan/ton, an increase of 2.55%. Under the push of futures prices, merchants’ quotations continued to rise. While prices were rising, steel plants in the province were overhauled and reduced production. The inventory of construction steel in Changsha dropped significantly. As of November 25, the total inventory was 190,500 tons, a week-on-week decrease of 16,300 tons. , A drop of 7.88%. Among them, the total amount of rebar is about 117,000 tons, accounting for 61.42%; the total amount of coils is about 73,500 tons, accounting for 38.58%. In particular, the decline in snails was relatively obvious, so the price of snails increased from 130 yuan/ton to 150 yuan/ton. In the afternoon, individual areas rushed up and fell. As most of the local resources are concentrated in the hands of large households, the price trend remains stable.
【Today’s price】
Prices in most cities in Hunan have risen by RMB 30-50/ton. At present, the inventory in prefecture-level cities is generally low, and some businesses are willing to support the price.
【Forecast tomorrow】
Inventories in the local market continued to decline, and steel mills in the province continued to enter the state of maintenance. Most of the resources were concentrated in the hands of large investors. Although futures fluctuated weakly in the afternoon, some cities showed signs of dark decline. It is expected that prices in Japan may be weakened and consolidate.
Post time: Nov-26-2021
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