This week, the overall price of construction steel in the country is dominated by shocks. Compared with last week, the tone has not changed. Specifically, the spread of the epidemic across the country has led to the deterioration of market demand expectations, capital hedging has led to a sharp decline in the futures market, and spot prices in various regions have also gradually decreased. However, with the release of the country’s positive macro news and the continuation of the delisting of our social network this week, the pessimism in the market has been effectively eased, and the spot price has stabilized. Therefore, this week, the market as a whole showed a volatile trend of first-suppression and then-upward.
As of March 18, the average price of 20mm grade 3 seismic rebar in major cities across the country was 4,955 yuan/ton, up 3 yuan/ton from the previous week; the average price of 8.0mm HPB300 high line was 5,162 yuan/ton, down 2 yuan/ton from the previous week.

On the whole, it is expected that the local construction steel price will show a shock adjustment trend next week.