Steel Price in the market on September 2, 2024

Threaded steel: On September 2nd, the average price of threaded steel in major cities across the country was 3317 yuan/ton, a decrease of 20 yuan/ton from the previous trading day. Specifically, in the morning session, the futures market opened low and closed low, while domestic spot prices partially weakened and remained stable in some areas. In the short term, the continuous decline in raw material prices has had a certain drag on the prices of finished products; At the same time, the recent market demand performance has been unstable.

Hot rolled coils: On September 2nd, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3220 yuan/ton, a decrease of 27 yuan/ton from the previous trading day. The price of hot coil futures continues to fall, the manufacturing industry has slightly declined, and the market atmosphere has declined. From the perspective of demand, there hasn't been much change in actual demand, only a slow rebound. The driving force of infrastructure projects is also not optimistic, and the expected peak demand season for "golden September and silver October" has weakened. On the supply side, domestic steel companies continue to carry out large-scale production cuts of molten iron, releasing pressure slightly.

Cold rolled coil: On September 2nd, the spot price of cold-rolled coil in China fell weakly, with a national average price of 3771 yuan/ton, a decrease of 10 yuan/ton from the previous trading day. Futures hot coil prices continue to fluctuate weakly, and the trading atmosphere in the market is also slightly quiet. In the afternoon, some markets increased their discount efforts, with trading as the main focus. Continuous high temperature weather in Chengdu and Chongqing regions has led to some terminal enterprises taking high-temperature leave. Market transactions are restricted, and social inventory continues to remain relatively high.

Medium thick plate: On September 2nd, the average price of 20mm ordinary plate in 24 major cities across the country was 3307 yuan/ton, a decrease of 11 yuan/ton from the previous trading day. The futures market fluctuated downwards, and the trading atmosphere in the market was not good, especially in the afternoon when the national mid board spot prices continued to decline. It is understood that the transaction performance is poor, the demand for low-alloy is weak, the terminal wait-and-see sentiment is increasing, and procurement is delayed. Traders and steel mills are in a bad mood and lack confidence in the future market.