Steel Price in the market on October 9, 2023

Screw thread steel: On October 9th, the average price of 20mm Grade III seismic resistant screw thread steel in 31 major cities across the country was 3814 yuan/ton, a decrease of 16 yuan/ton compared to the previous trading day. Specifically, in the morning, domestic construction steel prices continued to decline, with some slightly weakening. From the perspective of transaction, the snail market continued to decline in the afternoon, leading to a deterioration in the mentality of merchants, low reliance on high-level resources, and a cold trading atmosphere. In the short term, on the one hand, steel mills have not resumed production recently, and thread production has remained low, easing supply pressure; On the other hand, the recent rise in overseas risk events has had a certain negative impact on commodities.

Hot rolled plate and coil: On October 9th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 3880 yuan/ton, a decrease of 12 yuan/ton compared to the previous trading day. On the first trading day after the holiday, the center of gravity of hot spot futures prices continued to shift downwards. During the National Day holiday, there was no improvement in the sales volume after the holiday. During the holiday period, the purchasing enthusiasm is not high, and the peak season has entered its end. It is basically a foregone conclusion that the peak season from September to October this year will not be prosperous, and the basic performance of finished products is poor.

Cold rolled sheet and coil: On October 9th, the national average spot price of cold rolled sheet and coil was 4723 yuan/ton, a decrease of 2 yuan/ton compared to the previous trading day. The black futures market experienced a decline at the beginning of trading, further undermining market confidence, and some market prices followed suit slightly. The transaction situation is average. Although traders actively promote transactions, demand is relatively weak and the transaction performance is not satisfactory. In terms of mentality, the price difference between cold and hot prices has remained above 700 yuan/ton for a long time, and the excessive price difference has put significant psychological pressure on traders. Therefore, cautious wait-and-see is still the main approach for the future market.

Medium thick plate: On October 9th, the average price of 20mm regular plate in 24 major cities across the country was 3935 yuan/ton, a decrease of 15 yuan/ton compared to the previous trading day. The overall trading atmosphere in the market is poor, and the spot trading volume on the medium board is not as good as in the first two days before the opening, with prices continuously declining in a narrow range. According to traders' feedback, the current spot inventory on the medium board in various regions is almost increasing, and the pressure on shipping is increasing. However, as the market opens low, there are not many inquiries and there is room for negotiation. In terms of steel mills, the market has maintained a high supply state, and some steel mills have continuously lowered order prices. However, the overall market order enthusiasm is low, and demand release is weak.