China construction steel prices rose sharply

This week (2021.4.30-2021.5.8), the China construction steel prices rose sharply. On the whole, all areas of the thread have shown a substantial increase, and the increase in each area is 320-580 yuan/ton. The wire rod is still slightly stronger than the thread this week, and the price increase in each region is 410-670 yuan/ton.
 
The main reason is that during the May 1st holiday, market demand performed better than expected, coupled with the impact of macro news, market sentiment was very high and prices rose sharply. After the holiday, the snails continued to create new historical highs, and the market maintained a positive atmosphere. As the volume of transactions increased, prices in various regions showed a sharp rise.
 
In terms of inventory, this week's China steel production growth rate increased slightly from last week. The factory warehouse and social warehouse did not increase but decreased during the May 1st period. Judging from the inventory data, there is still a slight decline in inventory this week. Among them, the total inventory of rebar and wire rod in major domestic cities was 11.26779 million tons, a decrease of 209,100 tons compared with last week (April 29, 2021), a decrease of 1.82%. In the same period last year, inventory was 12.429800 tons, a year-on-year decrease of 1.161 million tons and a decrease of 9.35%.