Rebar spot below 4000 yuan
The Shanghai Futures Exchange yesterday rebar futures re-emergence of gapped down market, the main contract the day down 2.33 percent since July, the cumulative drop of more than 8%. Yesterday in Guangzhou spot market Shao steel wire at 4010 yuan / ton, down 50 yuan, 4000 yuan mark at stake, and the rebar spot price at 3910 yuan / ton, had already fallen to 4000 yuan / ton mark.
July, the market on the poor. "Told reporters in Foshan to do the business of steel products wholesale Chen Chung-significant for our traders, regardless of the price change, as long as they can sell out fast turnover no problem. The question now is no one willing to getting goods. "
Guangzhou sail Steel Trading Co., Ltd. Wang, general manager of the palm also told reporters that "we are now operating are bleak, expected the industry will be a reshuffle, the most critical is how to survive the long winter in the steel industry."
"Recently, a few days the spot price crash may be the upstream raw material prices fell by a larger relationship." Analyst. Tangshan billet price last weekend fell 130 yuan / ton, excluding tax lowered from 3250 yuan to 3120 yuan / ton, a drop of up to 4%; scrap prices are also down.
Financial strain of the steel on downstream industry
Steel prices stumble endlessly, "the status quo, the industry concluded that there are several major factors. On the one hand, the shrinking downstream demand is very powerful. Real estate regulation of steel prices, "The Government has recently re-emphasized to adhere to the regulation of real estate, steel prices have tumbled." New palm Wang told reporters. In addition, home appliances is also a large steel plate consumption, getting goods in this year's situation is not ideal.
On the other hand, the steel production capacity remains high. "From past experience, the steel prices tend to lead to decline analysts analysts said, however, this recent wave of price decline has not brought a corresponding adjustment of the production as of July 19, the national average price of rebar compared with the high point in April fell 12 percent, but lower yield has yet to appear.
In addition, the financial pressure is also a very important issue facing the steel trade and industry. Chen Chung-significant downstream demand to reduce the downstream industry funds in addition to macroeconomic Ministry of economy, steel is also important, the one of the reasons. "Fire, theft, anti-steel trade" is now circulating within the bank statement, bank lending to the steel trade and industry is still very cautious, together with the other provinces did the steel trading business 'disappeared', but also to the industry with to significant adverse effects. "king of the new palm.
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