The domestic construction steel market stabilized after falling this week. The average price of rebar in major cities was 3935 yuan/ton, down 3 yuan/ton from last Friday. The closing price of the main contract 2301 on this Friday was 3808 yuan/ton, 72 yuan/ton higher than the closing price on last Friday, and 12 yuan/ton lower than the market price of Hangzhou Zhongtian Thread 3820 yuan/ton. Weak reality still exists, the rebar price rebound is not strong enough, and traders are not willing to receive and store goods in winter. Some resources in Northeast China include Beicai going south to Shanghai and Hangzhou, which indicates that steel mills began to organize resources to go south. If resources are relatively concentrated, it may further affect the price of winter storage. As the market continued to rebound, the basis was further repaired. The main force of the 01 contract moved to the next month. The market sentiment was unstable and the volatility was still high. It is not ruled out that there is still room for a small increase in the positive expectation, but we should also be alert to the risk of falling back from the high. The Spring Festival was earlier this year, and merchants lacked confidence in the continuity of future market demand. The cautious mood of reducing stocks and avoiding risks remained. It is expected that the line snail market will continue to fluctuate and adjust next week, with front high and back low.
