Demand Resilience Persists, Iron Ore Remains Strong, Market Continues to Fluctuate

Spot Market Update:

  • Beijing Rebar: ¥3200/ton
  • Xi’an/Zhengzhou Rebar: ¥3180/ton
  • Wuhan Rebar: ¥3280/ton
  • Guangzhou Rebar: ¥3370/ton
  • Changzhou/Hangzhou Rebar: ¥3400/ton

Regional price differences are evident, but demand remains stable, particularly for hot-rolled coil, driven by strong export competition. Data from the China Iron and Steel Association (CISA) shows a significant rise in steel mill inventories, suggesting that in about two weeks, demand will start to decline, signaling the onset of winter storage trading logic.

Iron Ore Update:
Iron ore shows short-term strength due to two factors:

  1. The weakening of the U.S. Dollar Index.
  2. Steel mills stocking up on iron ore for winter storage.

Conclusion:
Short-term market fluctuations are expected to continue. The recommended strategy is to wait and observe or prioritize “sell on highs” for trading.

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