Steel Price in the market on July 22, 2024

Threaded steel: On July 22, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3536 yuan/ton, a decrease of 30 yuan/ton from the previous trading day. In the short term, although the market sentiment has improved due to the macro positive news of interest rate cuts, the recent switch between new and old national standards for steel bars has led to some concerns in the market about the digestion of inventory resources.

Hot rolled coils: On July 18th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3637 yuan/ton, a decrease of 26 yuan/ton from the previous trading day. At present, the market supply is still at a high level, inventory is running at a high level, and there is significant pressure for price increases.

Cold rolled coils: On July 22, the average price of 1.0mm cold coils in 24 major cities across the country was 4092 yuan/ton, a decrease of 21 yuan/ton from the previous trading day. At present, the overall trading atmosphere in the market is weak, and there is a certain bargaining space for market transactions, with a clear downward trend. The terminal's enthusiasm for purchasing goods is not high, and traders mostly sell at low prices to recoup funds.

Medium thick plate: On July 22, the average price of 20mm ordinary plate in 24 major cities across the country was 3676 yuan/ton, a decrease of 23 yuan/ton from the previous trading day. At present, downstream customers' procurement can be delayed at times, and the situation of "resuming procurement before production" is becoming more and more common.