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Steel Market Report


[Construction Steel] The market price of building materials stopped falling and rebounded on the 19th. The average price of rebar in major cities was 5799 yuan/ton, down 10 yuan/ton from the previous trading day. The snails rose sharply. The closing price of the main contract was RMB 5546/ton, which was RMB 122/ton higher than the settlement price of the previous working day, and a discount of RMB 234/ton from the market price of Hangzhou Zhongtian Thread at RMB 5780/ton. The market opened in the morning, and the quotations in the East China Building Materials Market ran smoothly. Affected by the news that some rolling mills of Shagang halted production during the session, the market’s expectation for the reduction of later resource arrivals increased, and the spread of speculation sentiment, and the price of snails in the future increased rapidly. The transaction volume increased slightly, the market’s willingness to go up was high, and the spot price rose. The East China Building Materials rose by 10-30 yuan/ton. Jiangsu steel mills will continue to reduce production, and the supply side will continue to remain low in the later period. Once transactions improve, prices will still have some room for upside. It is expected that the market price of building materials will continue to fluctuate tomorrow.

[Cold-rolled coils] The average price of cold-rolled sheets in major cities across the country on the 19th was 6622 yuan/ton, down 8 yuan/ton from yesterday and 29 yuan/ton from the same period last week. Among them, the market price of Angang’s 1.0 cold coil in Shanghai is 6500 yuan/ton, stable; Tianjin Tiantie’s 1.0 cold coil is 6310 yuan/ton, stable; Lecong Liugang’s 1.0 cold coil is 6420 yuan/ton, stable. Cold rolled market prices have stabilized and declined, spot market confidence is insufficient, high-level transactions are blocked, merchants tend to maintain a steady wait-and-see attitude, and most of the terminals purchase according to short-term needs, and overall market transactions are relatively thin. In the afternoon, the futures market was on the strong side, and merchants kept watching and cautiously operating, indicating that there is still a possibility of rising in the market outlook. The short-term cold rolled price is expected to fluctuate within a narrow range.

[Coating] On the 19th, the national market price of coated sheet was weakly consolidating. The average price of 1.0mm galvanized sheet in major cities was 6,891 yuan (ton price, the same below), down 14 yuan compared with the previous day; 0.3mm plating in major cities The average price of zinc sheet was 6,696 yuan, down 7 yuan compared to the previous day; the average price of 0.47mm color-coated sheets in major cities was 7,701, down 1 yuan compared to the previous day. In early trading, the performance of the coated sheet market was lacklustre. Galvanizing prices in Hangzhou, Tianjin, and Shenyang still showed signs of downward adjustment. The overall transaction atmosphere in the market was poor. With the strengthening of hot coil futures prices, in-day galvanizing in Boxing and other places Prices rebounded slightly, and downstream terminals mostly wait and see to purchase on-demand. It is expected that the price of coated sheet will continue to fluctuate at a high level tomorrow. In terms of steel mills, today’s private steel mills’ galvanizing ex-factory prices are mainly stable, with some fine-tuning 20-30 yuan/ton. Hebei Cold Rolling Base Material Factory’s ex-factory prices have been steadily lowered, and today’s prices are 5800-5850 yuan/ton.

[Seamless pipes] The seamless pipe market remained weak and stable on the 19th. The market price of seamless pipes of 108*4.5 in 33 cities was 6714 yuan/ton, down 1 yuan/ton. The ex-factory price of some pipe plants in Linyi, Shandong has been reduced by 50-100 yuan/ton. Currently, the ex-factory price of one-shot cold drawn pipe is 6700 yuan/ton, and the ex-factory price of hot-rolled pipe is 6350 yuan/ton. Liaocheng is temporarily stable. The ex-factory price of 219*10 seamless pipes is 6,300 yuan/ton, and shipments are poor. At present, Shandong tube plants are still in a state of power-cutting and production suspension, inventory trading is low, and some tube plants’ quotations are still firm, and some tube plants have cut their prices due to slower shipments. It is expected that in the later stage of the seamless pipe market, with the supply of seamless pipes declining and the cost of tube blanks, the market price of seamless pipes is likely to fluctuate in a narrow range at a high level.

[Stainless Steel] The spot price of stainless steel was adjusted within a narrow range on the 19th. In the Wuxi market: 304 cold-rolled TISCO was quoted at 21,900 yuan/ton, which was stable compared to the previous trading day; Hongwang Resources was quoted at 21,300 yuan/ton, which was 100 yuan/ton lower than the previous trading day; 304 hot rolled was quoted at 20,500 yuan/ton, down 100 from the previous trading day. For the 200 series: 201J1 four-foot cold-rolled tin Buddha mainstream reported to around 12800-13100 rough edges, while J2J5 resources went up to around 12400-12600 rough edges. The current high-level resource transactions are blocked. Merchants can adjust flexibly. On the whole, today’s transaction is not good, and the cold and hot rolling resources in Wuxi market are relatively abundant, especially the hot rolling resources are relatively large. In the cold rolling market, due to the recent increase in arrivals from Delong Steel Plant and the inflow of stocks from the delivery warehouse on the Shanghai Futures Exchange, cold rolling resources have also begun to increase. It is expected that the price will be adjusted within a narrow range in the near future.

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