Steel market prices on July 11, 2022

Construction steel: On July 11, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,180 yuan/ton, down 98 yuan/ton from the previous trading day. In the short term, despite the recent reduction in production by steel mills and the continuous destocking stage, the current market demand is still weak. At the same time, it is currently in the off-season of market consumption, and most parts of the country are affected by the spread of the epidemic, and consumption is hard to say.

Hot-rolled coil: On July 11, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4,147 yuan/ton, down 146 yuan/ton from the previous trading day. The raw materials are bearish, the steel futures are dropping, and under the premise that the overall market demand is still weak, the situation of weak steel supply and demand is further strengthened. The supply-side long-process steel mills have turned losses in an all-round way, and the loss reduction of electric furnaces has continued to increase. Under the pressure of profits and shipments, steel mills have stopped production and maintenance, and the utilization rate of blast furnace capacity has dropped significantly. At the same time, the recent regional precipitation has increased the pressure of disasters on demand, flood disasters have even increased in some areas, and some rivers may experience flooding. The overall pressure on downstream HRC demand has been released, but the overall strength is deviated, the speed of destocking is still slow, and the demand may not be eased in the middle of the year.

Cold-rolled coil: On July 11, the average price of 1.0mm cold coil in 24 major cities across the country was 4,713 yuan/ton, down 105 yuan/ton from the previous trading day. Over the weekend, Tangshan steel billets fell by 100 yuan / ton. In addition, today's hot coil futures fell sharply, and market confidence was obviously insufficient. The current demand continues to be weak. Traders still ship at lower prices and return funds. The wait-and-see mood is strong, and the market trading atmosphere is deserted.

Medium and heavy plate: On July 11, the average price of 20mm common plate in 24 major cities across the country was 4,513 yuan/ton, down 85 yuan/ton from the previous trading day. The current weak market situation makes downstream purchases less willing.