Steel market prices for August 8, 2022

Construction steel: On August 8, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,312 yuan/ton, up 46 yuan/ton from the previous trading day. Specifically, the snail fluctuated higher in the morning, continuing the market last weekend. Domestic construction steel prices generally rose slightly, and continued to rise in the afternoon, especially in the East China market. From the perspective of transaction, the snail continued to rise in the late afternoon, and many areas continued to rise. The transaction in some areas was acceptable, but the transaction performance in some areas was average. In the short term, although some steel mills have plans to resume production, in view of the possibility of rising raw material costs, the release rate of output is relatively slow; on the other hand, it is still in the traditional off-season of consumption, and the downstream demand is insufficient to follow up. The overall transaction situation in the near future Not stable.

Hot-rolled coil: On August 8, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4,128 yuan/ton, up 59 yuan/ton from the previous trading day. In terms of supply, the output of the five major steel varieties rebounded for the first time in the past eight weeks, increasing by 140,300 tons to 8,971,300 tons. However, the current increase mainly comes from the short process, and the resumption of production brought about by the improvement of the profit of the whole process steel mill in this round is not as expected by the market. The lack of optimization of the supply of plates has also caused the price of coiled plates to be slightly weaker.

Cold-rolled coil: On August 8, the average price of 1.0mm cold coil in 24 major cities across the country was 4,606 yuan/ton, an increase of 41 yuan/ton from the previous trading day. The hot coil futures continued to fluctuate strongly last Friday, the spot price followed up, and the overall market transaction volume increased. Today, the national cold-rolled coil market shipments increased, an increase of 12.41% over the previous trading day. In terms of mentality, the price rebounded slightly after the deep fall last month, and the pessimism in the market was eased. It is reported that under the pressure of high inventory in Shanghai and Ningbo, the willingness of merchants to reduce inventory and return funds is still strong.

Medium and heavy plate: On August 8, the average price of 20mm common plate in 24 major cities across the country was 4,328 yuan/ton, an increase of 31 yuan/ton from the previous trading day. Futures are running strong, some markets have already raised prices over the weekend, and transactions are acceptable. Fundamentally, some steel mills have plans to overhaul and reduce production in the mid to late ten days. It is expected that there will be room for short-term production decline, and the social pool will also gradually decline.