Steel market price forecast on April 12

Rebar: On April 12, the average price of 20mm three-level seismic rebar in 31 major cities across the country was 5,068 yuan/ton, down 48 yuan/ton from the previous trading day. Due to the sharp decline in goods on December, the domestic construction steel prices fell across the board, and some were weak and stable. From the perspective of transactions, due to the fall in futures, high speculative sentiment in the market is low, and the trading atmosphere is general. At the same time, the current spot price is still high, and the terminal is generally afraid of the current spot price, and the acceptance is low. In addition, with the fall in raw material prices, steel mills may have room for profit, and the market also has a desire to cash out. Overall, the price of construction steel is expected to continue to weaken on the 13th.

Hot-rolled coils: On April 12, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5515 yuan/ton, down 78 yuan/ton from the previous trading day. Affected by the fall in billet prices over the weekend, the spot opening on the 12th weakened. Merchants’ tentative quotations fell, but transactions were weak. Intraday merchants’ quotations continued to decline. The low speculative demand in the afternoon improved slightly, but overall transactions were still weak. On the whole, it is unlikely that prices will fall sharply in the short term.

Cold rolled coil: On April 12, the average price of 1.0mm cold coil in 24 major cities across the country was 5997 yuan/ton, down 41 yuan/ton from the previous trading day. Affected by the information, on the 12th, the steel market prices fell overall, and the hot-rolled spot fell sharply. Some cold-rolled merchants were bearish. Some merchants had low inventories and a small amount of replenishment on dips. Downstream replenishment was general. Wait and see. On the whole, it is expected that on the 13th, the national cold-rolled prices will fluctuate in a narrow range and will run mainly.

Plate: On April 12, the average price of 20mm common plate in 24 major cities across the country was 5548 yuan/ton, a decrease of 50 yuan/ton from the previous trading day. With the rapid decline of 12-day goods, the decline in spot quotations expanded. Under the influence of poor transactions in the morning, the second round of decline began at midday. From a fundamental point of view, the output of the medium board has continued to decline this week, and a wave of steel mill maintenance is coming, and the subsequent supply side pressure is not great. Regarding the price lock of steel mills, on the 12th, a single negotiated price of a medium and heavy plate steel mill was adjusted to varying degrees, ranging from 30-100 yuan/ton. In terms of transactions, the transaction was poor, the speculative atmosphere became weak, and the downstream side waited more. On the whole, prices are expected to stabilize or fall slightly on the 13th.