Core Insights - Shandong Laigang Yongfeng adjusted the ex-factory price of construction steel, increasing the rebar guidance price by 20 yuan/ton to 3190 yuan/ton [1] Price Adjustments - The current execution price for Φ22mm HRB400 rebar is set at 3190 yuan/ton, with additional charges of 120 yuan/ton for 10mm and 12mm rebar [1] - On September 18, the spot price for HRB400 Φ16 rebar was reported at 3190 yuan/ton in Hangzhou, while Yonggang's Φ16 rebar was priced at 3180 yuan/ton in Shanghai [2] Market Trends - As of September 18, the weekly rebar production was 2.0645 million tons, a decrease of 54,800 tons or 2.59% from the previous week [3] - Rebar factory inventory stood at 1.6507 million tons, down by 15,600 tons or 0.94%, while social inventory was 4.8521 million tons, a reduction of 20,200 tons or 0.41% [3] - The apparent demand for rebar increased by 119,600 tons or 6.04%, reaching 2.1003 million tons [3] Futures Market - On September 18, the main rebar futures contract closed at 3147.00 yuan/ton, reflecting a decline of 0.25%, with a trading volume of 1,727,718 contracts [2] Supply Chain Insights - As of September 17, the Shanghai Futures Exchange reported a decrease of 6,300 tons in rebar warehouse receipts, totaling 263,659 tons [4] Analyst Commentary - According to Ningzheng Futures research, the coal supply remains slow due to strict controls in major coal-producing areas, leading to a significant rise in coking coal prices followed by a correction [5] - The demand for steel during the "Golden September" period is recovering slowly, with high-priced resources seeing poor transaction volumes, limiting the potential for price increases [5] - Despite macroeconomic positive news, including potential interest rate cuts by the Federal Reserve and domestic policies promoting environmental limits, steel prices are expected to enter a narrow adjustment phase [5]