Steel market price on June 12, 2023

Building steel: On June 12th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3816 yuan/ton, a decrease of 11 yuan/ton compared to the previous trading day. In the short term, the raw material side is suppressed by policies, and it is difficult to perform well in the near future, or it may continue to drag down the production of materials; Recently, the market is still in a weak pattern of supply and demand, which may have some inhibition on price increases.

Hot rolled plate and coil: On June 12th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 3869 yuan/ton, a decrease of 23 yuan/ton compared to the previous trading day. The profits of steel mills have significantly improved, especially with significant long-term profits. However, the supply side's future power is limited, and it is not ruled out that there will be an increase in production resumption in the later stage. In the next few days, the north will face a wide range of high temperature weather, and there will be rainstorm in southwest, south China and other places. The construction progress may be partially affected.

Cold rolled coil: On June 12th, the average price of 1.0mm cold coil in 24 major cities across the country was 4471 yuan/ton, a decrease of 1 yuan/ton compared to the previous trading day. On the 13th, black commodity futures fluctuated weakly, with spot prices in various regions decreasing compared to last week. From the market's understanding, traders are very cautious in their operations, with some markets dropping shipments in the afternoon and mainly withdrawing funds. In addition, I have recently learned from some merchants who directly supply terminals that the current payment collection speed is very slow, and the enthusiasm of terminals to collect goods is not high.

Medium thick plate: On June 12th, the average price of 20mm regular plate in 24 major cities across the country was 4120 yuan/ton, a decrease of 2 yuan/ton compared to the previous trading day. On the 12th, the futures market fluctuated and fell, with spot prices rising before falling, and trading was average throughout the day. In terms of resources, the northern low-alloy lock price resources have successively arrived in East China, and the low-alloy resources in the Spot market have been replenished and the price difference with ordinary plates has also been repaired. In terms of demand, the trading performance on the market end this week was average, with low end inventory, but low enthusiasm for restocking, resulting in insufficient support after the rise in spot prices on the Chinese stock market.