Steel Price in the Market on October 23, 2023

Screw thread steel: On October 23rd, the average price of 20mm Grade III seismic resistant screw thread steel in 31 major cities across the country was 3801 yuan/ton, a decrease of 16 yuan/ton compared to the previous trading day. Specifically, in the early trading period, the prices of domestic construction steel remained stable and slightly relaxed, while the prices opened lower in the morning. From a transaction perspective, the morning spot market did not perform well in terms of transactions, and the intraday futures snail continued to be weak. Most resources were increased for discounted sales, and the demand for hard and speculative demand was poor. In the short term, due to factors such as the decline in futures and unstable market demand, merchants' mentality is sluggish and market demand is weak.

Hot rolled plate and coil: On October 23, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 3802 yuan/ton, a decrease of 24 yuan/ton compared to the previous trading day. The overall market atmosphere is weak, and the weakening of iron ore prices has driven the hot spot prices to continue to decline. From the perspective of supply, there has been a decline in production, and the trend of production reduction is relatively certain. However, currently, production remains at an absolute high level, making it difficult to generate substantial benefits. From a demand perspective, there is no significant improvement in apparent demand in the short term, market sentiment is still relatively weak, and overall market feedback is still relatively average.

Cold rolled sheet and coil: On October 23rd, the national average spot price of cold rolled sheet and coil was 4683 yuan/ton, a decrease of 11 yuan/ton compared to the previous trading day. The black hot coil futures market continues to decline, with cold rolled spot prices in most cities falling in tandem. Speculative demand is low, and overall market transactions have slightly decreased. According to feedback from some traders, both raw material futures and spot market prices are continuously declining, but steel mills have not adjusted their order prices accordingly. Currently, most traders are in an inverted state.

Medium thick plate: On October 23, the average price of 20mm regular plate in 24 major cities across the country was 3836 yuan/ton, a decrease of 24 yuan/ton compared to the previous trading day. Today's transactions were weak, terminal purchases were not active, and there was a small amount of speculative demand in the market. The national transaction situation was average, and the overall transaction did not improve. In terms of mentality, merchants in various provinces are still mainly actively shipping, but due to demand and inventory pressure, traders have a poor mentality. Although there was a slight decrease in mid board production last week, the magnitude is limited, and negative feedback has not yet formed in the short term.