Steel Price in the market on November 6, 2023

Thread steel: On November 6th, the average price of 20mm Grade III seismic resistant thread steel in 31 major cities across the country was 3953 yuan/ton, an increase of 28 yuan/ton compared to the previous trading day. In the short term, driven by positive macro news and rising steel mills, the focus of spot prices has recently risen; At the same time, the prices of raw materials have increased synchronously, with high cost support and good demand performance.

Hot rolled plate and coil: On November 6th, the average price of 4.75mm hot rolled plate and coil in 24 major cities across the country was 3934 yuan/ton, an increase of 25 yuan/ton compared to the previous trading day. Overall, steel spot prices continue to rise, raw materials fluctuate, and demand remains resilient. There is hope for a sustained rebound in the short term, but there is limited room for a mid to long term rebound.

Cold rolled coil: On November 6th, the average price of 1.0mm cold coil in 24 major cities across the country was 4710 yuan/ton, an increase of 8 yuan/ton compared to the previous trading day. According to feedback from some traders in East China, the overall market demand has not fluctuated much recently, and the current inventory in hand has decreased. In addition, the futures trend is still good, and many traders have a willingness to hold up prices. In terms of transaction, there is a weekend off downstream, and there are few pick-up operations. On the 6th, there are more pick-up and restocking operations, and the market transaction is relatively good.

Medium thick plate: On November 6th, the average price of 20mm regular plate in 24 major cities across the country was 3925 yuan/ton, an increase of 27 yuan/ton compared to the previous trading day. According to feedback, speculative sentiment in the market increased on the 6th, and the actual pickup situation was better than last Friday, indicating a stable release of market demand. In terms of resources, the shipment volume of various steel mills was average over the weekend, with almost no medium plate resources arriving at the port in East China and only a small amount of resources entering the port in Southwest and South China. And the main plate steel mills in North China have gradually reduced production, with significant efforts. Overall, the fundamentals of the medium board market have improved, and supply and demand are about to reach a balanced state.