Chinese rebar market dim
2023-04-05 08:53:30 [Print]
BEIJING (Asian Metal) 5 Apr 23 - Due to weakening confidence from market participants, Chinese rebar market slowed down this week amid price decline. On Tuesday the mainstream prices of rebar HRB400E Φ20mm hovered at RMB4,080/t (USD593/t) and RMB4,120/t (USD599/t) D/P in Tianjin and Guangdong respectively, down by RMB40/t (USD6/t) and RMB30/t (USD4/t) respectively from this Monday. Given falling prices of raw materials and limited demand from downstream industries, insiders predict rebar prices would edge down further in following days of this week.
A trader in Tianjin revealed that his sales amount reached nearly 200tpd this week, down from 300tpd late last week. He quoted RMB4,100/t (USD596/t) for rebar HRB400E Φ20mm on Tuesday but finally sold around 40t of the material at RMB4,080/t (USD593/t). "The price already dropped by around RMB40/t (USD6/t) on Monday, when we sold about 50t of the material at RMB4,120/t (USD599/t)," he said, adding that most traders showed little optimism for the coming market and raw materials' prices continued on the decline. Seeing the slow market performance, he is of the opinion that rebar prices would fall further in following days of this week.
The company recorded a sales amount of nearly 12,000t in the Q1 of this year, against almost 60,000t in 2022. It estimated the sales volume would reach about 5,000t in April, similar to March. It holds an inventory of roughly 4,000t at present, up by 500t from one week ago.
A trader in Guangdong reported that rebar market there slowed down recently due to continuous rain. His sales volume reached about 100tpd this week, down from 120tpd late last week. "We quoted RMB4,150/t (USD603/t) or rebar HRB400E Φ20mm on Tuesday and finally sold around 20t at RMB4,120/t (USD599/t)," he said, adding that he last sold around 15t of the material at RMB4,150/t (USD603/t) on Monday. Given that some traders began to show bearish attitudes and tried to promote sales, he predicted rebar prices would decline further in following days of this week.
With a trading volume of nearly 25,000t in 2022, the company sold roughly 5,000t in the Q1 of this year. Its sales amount might reach 3,000t in April, in line with March. The company has no stock at present, without much change from two weeks ago.
A trader in Tianjin revealed that his sales amount reached nearly 200tpd this week, down from 300tpd late last week. He quoted RMB4,100/t (USD596/t) for rebar HRB400E Φ20mm on Tuesday but finally sold around 40t of the material at RMB4,080/t (USD593/t). "The price already dropped by around RMB40/t (USD6/t) on Monday, when we sold about 50t of the material at RMB4,120/t (USD599/t)," he said, adding that most traders showed little optimism for the coming market and raw materials' prices continued on the decline. Seeing the slow market performance, he is of the opinion that rebar prices would fall further in following days of this week.
The company recorded a sales amount of nearly 12,000t in the Q1 of this year, against almost 60,000t in 2022. It estimated the sales volume would reach about 5,000t in April, similar to March. It holds an inventory of roughly 4,000t at present, up by 500t from one week ago.
A trader in Guangdong reported that rebar market there slowed down recently due to continuous rain. His sales volume reached about 100tpd this week, down from 120tpd late last week. "We quoted RMB4,150/t (USD603/t) or rebar HRB400E Φ20mm on Tuesday and finally sold around 20t at RMB4,120/t (USD599/t)," he said, adding that he last sold around 15t of the material at RMB4,150/t (USD603/t) on Monday. Given that some traders began to show bearish attitudes and tried to promote sales, he predicted rebar prices would decline further in following days of this week.
With a trading volume of nearly 25,000t in 2022, the company sold roughly 5,000t in the Q1 of this year. Its sales amount might reach 3,000t in April, in line with March. The company has no stock at present, without much change from two weeks ago.
