Prices in the construction steel market were stable to strong on the 8th. The average price of rebar in major cities was RMB3,952/mt, up RMB1/mt from the previous trading day. The main contract 2305 closed at 3,839 yuan/ton, up 29 yuan/ton from the previous working day's settlement price, and at a discount of 48 yuan/ton to the market price of 3,830 yuan/ton in Hangzhou. Spot prices were stable in most domestic areas at the morning market. After the opening of the session, the snail shuddered upward, but the spot did not follow the trend higher. Given the general performance of the terminal demand, the spot price in most areas was mainly stable. The market sentiment improved slightly as the snail oscillated higher during the session, and spot prices in some regions rose slightly by 10-20 yuan/ton. However, compared with the strength of the futures, the spot market appears to be relatively calm, the off-season demand continues to weaken, the market continues to rise after the lack of energy. With the relaxation of the nationwide epidemic control policy, the market is expected to be positive for the future market, and short-term prices still have some upward momentum. It is expected that the near-term construction steel market offer oscillation is mainly strong.
