Steel market price on August 2

Construction Steel: On August 2, the average price of 20mm Class III seismic rebar in 31 major cities across the country was 5389 yuan/ton, down 90 yuan/ton from the previous trading day. Affected by the sharp dive of snails in the night market last Friday, the spot market on the weekend weakened across the board. In the morning, domestic construction steel prices continued their weekend decline. From the perspective of transactions, due to the sharp drop in futures, the spot market mentality is sluggish, the trading atmosphere is deserted, speculative demand is low, and market shipments are poor. It is expected that domestic construction steel prices may continue to be weak on the 3rd.

Hot-rolled coils: On August 2, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5,808 yuan/ton, down by 125 yuan/ton from the previous trading day. Today, the black commodity futures market fluctuates at a low level. After the second price adjustment, low-level transactions in the market have improved, and there is a strong demand for low-level speculative receipts and replenishment. Some merchants tried to explore the rise after the transaction improved, but they lacked motivation. After this round of plunge, market sentiment was vented, and short-term steel prices may be stabilized. Hot coil prices between 5800-5900 yuan/ton are still a reasonable price range.

Cold rolled coil: On August 2, the average price of 1.0mm cold coil in 24 major cities across the country was 6,537 yuan/ton, down 37 yuan/ton from the previous trading day. Hot rolls in the futures market fell, and merchants were mainly cautious. The market is currently falling, the market mentality is weak, the trading atmosphere is not good, the downstream is mostly waiting and see, and the overall shipment of merchants is poor. On the whole, domestic cold-rolled prices fluctuated on the 3rd, and the price was weak.

Plate: On August 2, the average price of 20mm general-purpose plates in 24 major cities across the country was 5739 yuan/ton, down 61 yuan/ton from the previous trading day. Affected by heavy rains in Henan last week, the operating rate and capacity utilization rate of steel mills declined slightly. It is expected that production will resume as soon as possible. Coupled with the upcoming resumption of production in Anshan Iron and Steel, the operating rate and capacity utilization rate of steel mills may increase slightly this week. After the last round of centralized ordering by distributors in East China, the current single negotiated price of steel mills is generally high, and it is expected that the number of steel mills' lock-up orders will decline in the near future, unless steel mills take the initiative to reduce prices. At present, the market terminal purchase enthusiasm is not high. Last week, as market prices rose, small batches of goods were started, and overall demand was very limited. It is comprehensively estimated that the price of plate on the 3rd will fall behind and run in consolidation.