Steel Price in the market on January 15, 2024

Screw thread steel: On January 15th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 4030 yuan/ton, a decrease of 11 yuan/ton from the previous trading day. In the short term, the market has been in a weak supply-demand pattern recently, while raw material prices have fallen and cost support has weakened. In addition, there has been no macroeconomic stimulus in recent times.

Hot rolled coil: On January 15th, the average price of 4.75mm hot rolled coil in 24 major cities across the country was 4080 yuan/ton, a decrease of 6 yuan/ton from the previous trading day. Overall, steel terminal procurement tends to be cautious and winter storage enthusiasm is average, while supply tends to decline, and policies and market expectations are preferred. In terms of supply, regions that have recently issued heavy pollution weather warnings have gradually lifted their emergency response, while steel mills have seen an increase in production cuts during maintenance in the new year, which will still limit the space for the recovery of finished product production in the future. In terms of demand, the transaction of hot-rolled coils is at a seasonal low level, and the increment is difficult to continue.

Cold rolled coil: On January 15th, the average price of 1.0mm cold coil in 24 major cities across the country was 4747 yuan/ton, a decrease of 1 yuan/ton from the previous transaction. It is understood that the supply of general materials resources in the Southwest market has increased, and with the comprehensive cooling in the north, some northwest resources have gradually flowed into the Southwest market. Inventory has gradually accumulated, and the overall market resource performance is relatively abundant. Terminal orders are not saturated, and the market trading atmosphere is cold. There is no significant increase in demand for steel in the short-term market, and traders tend to be cautious.

Medium thick plate: On January 15th, the average price of 20mm regular plate in 24 major cities across the country was 4116 yuan/ton, a decrease of 1 yuan/ton from the previous trading day. There are new resources to replenish the stock of medium and thick plates, but the overall arrival volume is still not large, and there is still a shortage of specifications in most markets, especially for low alloys. The fundamentals are still weak in both supply and demand, so on the 15th, the quotation for the medium and thick board will mainly be consolidation, with strong resistance to falling prices. But the transaction performance throughout the day was average, and downstream demand was not high. In terms of resources, with the adjustment of the price difference between the north and south to a reasonable range, coupled with the scarcity of resources in the southern market, businesses are gradually considering supplementing scarce specifications. Recently, the volume of North China materials going south has gradually increased.