Steel market price on March 6, 2023

Construction steel: On March 6, the average price of 20mm Grade III seismic deformed steel bars in 31 major cities nationwide was 4342 yuan/ton, down 5 yuan/ton from the previous trading day. From the perspective of supply, there is still room for the output of building materials to pick up this week. From the perspective of demand, the market demand will continue to pick up in the near future. However, in view of the recent expected cooling of the macro market and high doubts about the recovery of demand, there is still some adjustment pressure in the short term.

Hot rolled plate and coil: On March 6, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 4384 yuan/ton, down 10 yuan/ton from the previous trading day. In general, China's main development target in 2023 is clear, and the GDP growth of about 5% is considered conservative by the market, which is less than expected. From the perspective of actual demand, the overall appearance is still relatively general, and it is expected to gradually enter the stage of demand recovery and slowdown. Once the later consumption recovery is less than expected, the inventory may accumulate again, and the spot price is difficult to continue to rise. In the near future, finished products have maintained a pattern of double increase in supply and demand, and the contradiction is not prominent. In the later stage, it is still necessary to pay attention to the implementation of relevant reporting policies.

Cold rolled coil: On March 6, the average price of 1.0mm cold coil in 24 major cities nationwide was 4803 yuan/ton, up 9 yuan/ton from the previous trading day. According to the traders' feedback, the price of the hot roll futures fell at a high level on the 6th, which affected the stable operation of the market quotation. However, in the afternoon, the prices in various parts of the market dropped by 20-30 yuan/ton, and the market transaction was average. At present, most of the market is dominated by shipments, and the market inventory has been continuously declining, and the trade link is unwilling to sell at too low prices.

Medium and thick plate: On March 6, the average price of 20mm ordinary plate in 24 major cities across the country was 4510 yuan/ton, up 10 yuan/ton from the previous trading day. Although futures fluctuated and went down, some markets were affected by the drop of spot inventory and the shortage of some specifications, and the price of the quotation was slightly higher, but due to the poor performance of downstream demand, the trading volume of the medium and heavy plate market weakened throughout the day. In terms of resources, with the price adjustment, the North-South price difference has now recovered to a reasonable range, and some southern traders have taken the initiative to stock up, and in the near future, there will be a batch of northern materials going south.