After a continuous period of stable price, Shanghai construction steel price has finally risen again. Coming with the price rise is the price increasing policy announced by leading steel enterprises. However, the release of end demand hasn''t found suitable match yet.
According to latest market report, the recent winter storage cost is at a record high for sure. Meanwhile, the traditional channels of winter storage hasn`t been opened until today.
More specifically, until December 10, the price of construction steel is quoted at CNY 4660 per tonne, up by CNY 30 per tonne within only one week. Recently, the secondary fine quality rebar price is adjusted to CNY 4600 per tonne, up by CNY 30 per tonne in one week, and that for the third fine quality rebar price is adjusted to CNY 4750 per tonne, up by CNY 60 per tonne.
Some analysts have told the reporter that from the perspective of the winter storage, the current imbalance between demand and supply is quite obvious. Specially, some leading steel enterprises in China seem to have reached an agreement of collective price increase, and individual steel enterprises even bring up the steel price day by day.