Steel market price on June 28, 2022

Construction steel: On June 28, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,339 yuan/ton, up 20 yuan/ton from the previous trading day. In the early trading, the market transaction was general, and low-priced resources were shipped. In the late afternoon, the spiral rose, the market transaction improved significantly, the speculative demand was released, the terminal purchase volume increased, the spot price rose positively, and the transaction throughout the day continued to increase compared with yesterday.

Hot-rolled coil: On June 28, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4,427 yuan/ton, an increase of 5 yuan/ton from the previous trading day. On the whole, the current inventory growth rate has slowed down slightly, and the terminal demand has also recovered to a certain extent. Traders are more optimistic about the market outlook. Judging from the current situation, the number of steel mills reducing production and maintenance may gradually increase in the near future, but the short-term demand recovery speed is still not obvious.

Cold-rolled coil: On June 28, the average price of 1.0mm cold coil in 24 major cities across the country was 4,972 yuan/ton, down 1 yuan/ton from the previous trading day. Near the end of the month, merchants are more willing to withdraw funds. In terms of steel mills, in late June, the settlements of major steel mills have been announced one after another. The settlement price of AG's cold rolling in Shanghai is 5,230 yuan / ton, and the settlement price of BG's cold rolling in Shanghai is 5,200 yuan / ton, and the settlement price is still high. 

Medium and heavy plate: On June 28, the average price of 20mm common plate in 24 major cities across the country was 4,698 yuan / ton, unchanged from the previous trading day. From the perspective of supply, the scope and extent of losses of steel mills have expanded, but considering the production indicators for next year, there is no centralized production reduction phenomenon in the short term, and they still choose to produce at a loss. Recently, due to the partial production reduction of billet-adjusted and rolled material enterprises, the supply may decline in the later period, but the extent is limited. As the willingness of the terminal to take goods declined slightly after the price went up slightly yesterday, the futures rose in the afternoon today, boosting the market sentiment, and the transaction improved slightly. The current recovery rate of steel demand is still slow and unstable. In the face of pessimism in demand, although the state continues to issue policies to promote demand, the implementation of policies still needs time to verify.