Steel market price on February 28, 2023

Construction steel: On February 28, the average price of 20mm Grade III seismic deformed steel bars in 31 major cities nationwide was 4307 yuan/ton, down 17 yuan/ton from the previous trading day. In the short term, supply pressure is gradually increasing, while the sustainability of demand recovery remains to be seen.

Hot rolled plate and coil: On February 28, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 4325 yuan/ton, down 11 yuan/ton from the previous trading day. On the 28th, the overall transaction situation was general, the market quotation was unrealistically high, and the actual transaction was mainly a decline. At present, the market is still in the stage of stock reduction. In the short term, the black futures market continues to be in a weak shock, and the overall market confidence is weak.

Cold rolled coil: On February 28, the average price of 1.0mm cold coil in 24 major cities across the country was 4763 yuan/ton, down 2 yuan/ton from the previous trading day. On the 28th, the heavy-volume futures fluctuated slightly, and most of the market merchants kept their bids stable. According to merchants' feedback, at that time, the market mentality was cautious, the downstream wait-and-see mood was strong, and the acceptance of high-priced resources was low, and they were mainly purchased on demand.

Medium and thick plate: On February 28, the average price of 20 mm ordinary plate in 24 major cities across the country was 4441 yuan/ton, down 5 yuan/ton from the previous trading day. It is understood that the recent downstream demand performance is average, the steel factory arrival cost is high, the merchants are optimistic about the future market, and the willingness to ship at low prices is not strong. However, downstream terminals have limited acceptance of high-priced resources and low enthusiasm for procurement. In the short term, the support of the raw material side is strong, which has some support for the spot price. The market is mainly based on the withdrawal of funds from stock reduction and shipment, and is cautious about the future market.