Steel market price on May 11, 2022

Construction steel: On May 11, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,985 yuan/ton, up 16 yuan/ton from the previous trading day. The conch stopped falling and rebounded, and the market sentiment improved. In the morning, domestic construction steel prices stopped falling and stabilized. In the short term, market sentiment is still weak, and merchants are mainly shipping, not blindly chasing high.

Hot-rolled coil: On May 11, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 5,048 yuan/ton, up 36 yuan/ton from the previous trading day. In the spot market, the quotations rebounded in early trading, and the market transactions were acceptable. In the middle of the session, the volume continued to rise, and the market prices followed suit. After the rise, the transaction performance was average, and the overall wait-and-see mood was strong. On the whole, the sharp drop in the early stage of the disk led to a significant reduction in market demand, and the profit of steel mills was close to the loss line. After the disk rebounded and rebounded, the market sentiment has been boosted, and some of the delayed demand in the early stage has gradually been released, and the pressure on merchants has eased.

Cold-rolled coil: On May 11, the average price of 1.0mm cold coil in 24 major cities across the country was 5,576 yuan/ton, up 2 yuan/ton from the previous trading day. In the market, as the hot coil futures stopped falling and rebounded, the market trading atmosphere has improved, and the market turnover has increased significantly. Merchants said that the market price continued to decline in the early stage, and the downstream mostly took a wait-and-see attitude. As the price gradually stabilized, the demand that was suppressed in the early stage increased. In terms of mentality, the epidemic broke out in scattered spots across the country. In addition, the south has recently entered the flood season, and the market demand may lag behind. The merchants are more cautious, and the current operation is mainly based on shipment transactions.

Medium and heavy plate: On May 11, the average price of 20mm common plate in 24 major cities across the country was 5,237 yuan/ton, an increase of 2 yuan/ton from the previous trading day. The disk went up, and individual markets followed with a slight increase. However, due to the weak downstream demand in most areas, the actual transaction performance of the market was not good, and the mainstream market quotations were mainly running throughout the day. In terms of resources, although the current north-south price gap has been repaired, considering the lack of downstream demand release and the strong wait-and-see mood of merchants, traders are not willing to take the initiative to stock up in the short term.