Steel market price on November 8, 2022

Construction steel: On November 8, the average price of 20mm Grade III anti-seismic deformed steel bars in 31 major cities nationwide was 3906 yuan/ton, down 11 yuan/ton from the previous trading day. In the short term, the cost is high, the output of the steel plant is limited, the market supply pressure is not big, and the low inventory still has some support for the price, but the macro environment has not improved, the epidemic situation has greater uncertainty, and the market sentiment is not optimistic.

Hot rolled coils: On November 8, the average price of 4.75mm hot rolled coils in 24 major cities nationwide was 3807 yuan/ton, down 7 yuan/ton from the previous trading day. At present, the overall transaction of the market is still weak. From the perspective of the order receiving situation of the steel plant, it is still not optimistic, and is worried about the future market. To sum up, some steel plants are planned to repair, supply or reduce in the near future. The epidemic situation in many places is severe. In the case of weak supply and demand, the price may continue to be dominated by weak shocks.

Cold rolled coil: On November 8, the average price of 1.0mm cold coil in 24 major cities nationwide was 4388 yuan/ton, down 3 yuan/ton from the previous trading day. According to the feedback of some market merchants, the market price has fallen for several days, and the market turnover has shrunk significantly. However, as the arrival rate of steel plant resources has not decreased, the inventory pressure faced by the steel plant has also followed. Considering the pressure of capital turnover, the phenomenon of fierce bidding among traders is fierce. In terms of demand, with the gradual cooling of the weather and the spread of the epidemic, the intensity and incremental space of demand release are relatively limited. In terms of mentality, businesses are not confident enough about the future market and generally hold a cautious and pessimistic attitude.

Medium and heavy plate: On November 8, the average price of 20mm plain plate in 24 major cities nationwide was 3956 yuan/ton, down 8 yuan/ton from the previous trading day. As the frequent outbreaks of the epidemic have a certain impact on the terminal demand, the purchasing enthusiasm has declined significantly, the transportation has also been limited, and the transaction has been sluggish. Recently, the profits of steel enterprises have narrowed, and the situation of active production reduction has increased, and the supply pressure may be eased in the later period. From the perspective of regional circulation, the resource amount of Beicai is increasing in the south, which is expected to ease the inventory pressure in the north in the later period.