en.Wedoany.com Reported - In the market, Shanghai steel mesh prices overall saw a slight increase of 20 yuan/ton, with the day's gains driven by afternoon spot market adjustments. Morning trading saw intense competition among mesh manufacturers, with quotes for CRB550 grade 10 specifications mostly concentrated around 3,700 yuan/ton, though high-end resources at 3,750 yuan/ton and low-end resources at 3,650 yuan/ton were also present. Despite the price rebound, market surveys indicate that transaction volumes did not follow suit, with some manufacturers even resorting to covert price cuts to move inventory. Some smaller factories have recently seen a slight expansion in profit margins, but most have refrained from stockpiling raw materials due to concerns over potential price corrections.
On the raw material side, the Jiangsu construction steel market showed a trend of initial stability followed by gains today. Morning trading saw narrow fluctuations in rebar futures, with numerous inquiries but limited transactions, resulting in a subdued market atmosphere. In the afternoon, as futures neared closing, the market was rapidly driven upward, boosting sentiment and releasing speculative demand, while downstream construction sites increased procurement activity. As a result, transaction volumes expanded significantly, low-priced spot resources diminished, and transaction prices generally stabilized with slight upticks. Provincial leading steel mills maintained a largely stable pricing policy, with some specifications remaining tight, providing support for price floors. The afternoon rally in rebar futures bolstered market confidence, and Jiangsu construction steel prices are expected to maintain a narrow, volatile but firm trend tomorrow.
In the short term, Shanghai steel mesh prices are expected to move in tandem with raw material prices, undergoing consolidation.
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