Steel market price on June 6, 2023

Building steel: On June 5th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3808 yuan/ton, an increase of 76 yuan/ton compared to the previous trading day. In the early trading period, the screw was operating at a high level, and domestic construction steel prices were actively rising. From the perspective of transaction performance, due to the rapid increase in prices and the strong wait-and-see sentiment among downstream users, the overall transaction performance was lukewarm, and some merchants quietly lowered their shipments in the afternoon.

Hot rolled plate and coil: On June 5th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 3884 yuan/ton, an increase of 76 yuan/ton compared to the previous trading day. The news of the implementation of environmental protection production restrictions in the Tangshan area over the weekend continues to boost the steel market, with steel prices in major markets across the country rising significantly, but seasonal pressure on demand is gradually becoming more prominent. The decline in social inventory has expanded, and the apparent demand has slightly rebounded month on month, with short-term support increasing. With the strengthening of downstream finished material prices, the tenth round of reduction in coke prices has become a space for industrial profits to move forward. It is not ruled out that steel mills' profit recovery will continue to boost production.

Cold rolled sheet coil: On June 5th, the average price of 1.0mm cold coil in 24 major cities across the country was 4455 yuan/ton, an increase of 47 yuan/ton compared to the previous trading day. On the 5th, black commodity futures experienced strong volatility, and spot prices in various regions continued to rise compared to last week. From the market understanding, traders are relatively optimistic in their operations, with some markets experiencing a tight supply of general materials and a reluctance to sell. In terms of transactions, merchants reported a slight increase in market transactions on the 5th, indicating a rebound in speculative demand.

Medium thick plate: On June 5th, the average price of 20mm regular plate in 24 major cities across the country was 4133 yuan/ton, an increase of 49 yuan/ton compared to the previous trading day. Judging from the market situation on the 5th day, affected by the sharp rise of Tangshan market price at the weekend, the spot price of medium plate rebounded from the decline, but due to the large rise in price, the deal was generally concluded throughout the day. In terms of price difference, low alloy resources have been gradually replenished to the market recently, and the price difference between low alloy plates and ordinary plates has further narrowed. In terms of inventory, due to sustained high production and low terminal demand intensity, the market has recently started to accumulate inventory, which has to some extent suppressed spot prices.