In late July, the rebar market showed a downward trend. From July 29th to August 2nd, the domestic construction steel market prices generally fell. Among them, the price of construction steel in East China fell by 40 yuan / ton ~ 80 yuan / ton; the price of major construction steel in Central and South China fell 40 yuan / ton ~ 70 yuan / ton; the price of major construction steel market in North China and Northeast China fell 40 Yuan / ton ~ 100 yuan / ton; the price of the main construction steel market in the western region fell 10 yuan / ton ~ 70 yuan / ton. On August 5, due to the continuous high temperature weather, the downstream terminal demand did not show obvious release, and the price continued to fluctuate downward. The price of rebar, wire and coiled snails in the Shanghai market fell by RMB 30/ton to RMB 40/ton. Plain, steel traders mostly cut prices. It seems that the construction steel market in August is not very optimistic, but recently, Liang Taigeng, general manager of Shanghai Hualei Enterprise Development Co., Ltd. said that rebar prices still rebounded in August.

There are two causes for this. One is market supply will decline, and the other is market demand will gradually increase.

Overall, the rebar market is expected to rebound in August, but the premise is that supply declines, inventory declines, and demand rises. This is the key to determining the rebound momentum.