Steel market price on November 20, 2023

Thread steel: On November 20th, the average price of 20mm Grade III seismic resistant thread steel in 31 major cities across the country was 4056 yuan/ton, a decrease of 2 yuan/ton compared to the previous trading day. Specifically, in the early trading period, the snail market experienced weak fluctuations, and in the morning, most of the construction steel in major cities in China weakened, with some remaining stable. From the perspective of transaction, in the afternoon, the bottom of the snail market rose, and most cities saw a rebound in low-priced resources. The demand for immediate and speculative demand rebounded, and the overall transaction was better than the previous trading day. In the short term, stable growth and favorable policies have been continuously implemented in the near future, and macro strong expectations have not receded; Although the supply has slightly rebounded recently, it is still at a low level within the year, and the low supply pattern has not changed. At the same time, inventory is still in the stage of destocking, which still provides some support for spot goods.

Hot rolled plate and coil: On November 20th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 4026 yuan/ton, an increase of 3 yuan/ton compared to the previous trading day. Macro favorable policy expectations and cost support still dominate the steel market. Today, market sentiment rebounded, with hot spot futures rising to 4047 points. At the level of supply and demand in reality, there is a seasonal decline in demand, but the inventory of major steel varieties is still decreasing, and the overall inventory reduction process continues. In terms of supply, after the recent recovery of steel mill profits, some enterprises have started to resume production, and some electric furnace steel production has bottomed out and rebounded.

Cold rolled sheet and coil: On November 20th, the spot price of cold rolled sheet and coil nationwide remained weak and stable, with a national average price of 4741 yuan/ton, a decrease of 1 yuan/ton compared to the previous trading day. Black futures initially suppressed and then rose. Despite cost support and macroeconomic policy support, market demand has not changed significantly, and market quotations are mostly stable. According to feedback from some traders in East China, steel mills have been arriving one after another, but shipments have not been as expected. The inventory in the hands of traders has gradually increased, coupled with average market demand, and there have been many dark drops on weekends to accelerate the operation of outbound shipments. However, the actual results have not been satisfactory. Today, futures have fluctuated upward, and under the purchasing psychology of "buying up instead of buying down", downstream demand for restocking has been released, and market transactions have improved.

Medium thick plate: On November 20th, the average price of 20mm regular plate in 24 major cities across the country was 4023 yuan/ton, which was unchanged from the previous trading day. Traders' quotations remained stable throughout the day, with high volume transactions in the afternoon but not in a hurry to increase prices, with shipments being the main focus. According to market feedback, buyers who held a wait-and-see attitude last week were more active in picking up goods today, and overall transactions were better than last Friday. Traders are bullish on the future market. Although they have entered the traditional off-season of consumption, steel production and delivery are currently slow, and the overall situation is showing a weak supply and demand. With macro expectations still in place, the price of the medium plate is expected to rise slowly.