Market price of steel on August 14, 2023

Building steel: On August 14th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities nationwide was 3744 yuan/ton, a decrease of 17 yuan/ton compared to the previous trading day. In the short term, on the one hand, some domestic real estate companies have been hit by bearish sentiment recently, which has intensified market pessimism; On the other hand, the production enthusiasm of steel mills in the current market is still at a high level, with increasing fundamental pressure. At the same time, the cost support has recently weakened.

Hot rolled plate and coil: On August 14th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 3971 yuan/ton, a decrease of 22 yuan/ton compared to the previous transaction. Overall, weak demand in reality has led to a continued decline in steel prices, and the market is still waiting for a positive outcome. From a weak reality perspective, the market has a strong sense of pessimism. Multiple real estate companies have experienced liquidity pressure, and several previously well-known real estate companies with billions of yuan have recently been delisted, indicating that the decline in the real estate market is difficult to alleviate. From the perspective of supply and demand, the total production has slightly increased, and the increase in demand for hot coil meters is basically in line with expectations, without bringing any surprises. The pattern of inventory accumulation and weak demand has not changed.

Cold rolled coil: On August 14th, the average price of 1.0mm cold coil in 24 major cities across the country was 4643 yuan/ton, a decrease of 11 yuan/ton compared to the previous trading day. On the 14th, the hot spot futures market was weak, and some city merchants slightly lowered spot prices in order to withdraw funds for shipment. According to feedback from merchants in the Shanghai market, due to the current low inventory pressure in the market and the high settlement prices of steel mill resources, merchants have a strong willingness to stand up.

Medium thick plate: On August 14th, the average price of 20mm regular plate in 24 major cities across the country was 4105 yuan/ton, a decrease of 12 yuan/ton compared to the previous trading day. Fundamentally speaking, there has been a slight increase in market arrivals recently, with a decrease in orders for various types of steel from northern steel mills, thereby increasing the quantity of some circulating materials and increasing resources from the south. For the short-term market, in the case of weak demand for general materials, social inventory will continue to accumulate. In terms of demand, the overall demand structure of medium and thick plates is clearly differentiated. The circulation material category has shown a weak trend recently, and the variety steel is generally acceptable. For the supply and demand side of the entire medium plate, there is a certain positive support, so that spot prices will not fall too quickly.