Steel market prices on March 7, 2022

Construction steel: On March 7, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 5,037 yuan/ton, up 91 yuan/ton from the previous trading day. In the short term, in terms of supply, with the end of the Winter Olympics, the recovery of production in March is a deterministic event. After the Paralympic Games and the two sessions, the recovery rate of production will be further accelerated; in terms of transactions, it will enter the downstream terminal of gold in March. Work has resumed one after another, and after the spot price rebounded with the futures price, the transaction has gradually entered the right track compared with February.

Hot-rolled coil: On March 7, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 5,289 yuan/ton, an increase of 111 yuan/ton from the previous trading day. Due to concerns about energy supply, the variety of bulk commodities has generally risen, and the rise in raw materials such as bi-coke and iron ore has driven the price of finished products to rise, and the cost support is strong. At the same time, Russia's HRC export restrictions and supply concerns have once again pushed up HRC prices, obviously driving up domestic prices.

Cold-rolled coil: On March 7, the average price of 1.0mm cold coil in 24 major cities across the country was 5,711 yuan/ton, an increase of 68 yuan/ton from the previous trading day. According to the feedback from some regional traders, the price of cold rolling has increased significantly today, and the market trading sentiment is strong. Most of the merchants focus on the delivery of cash. The inventory is overturned, the inventory pressure is too large, and the inventory in the mainstream market in the southeast is too high.

Medium and heavy plate: On March 7, the average price of 20mm common plate in 24 major cities across the country was 5,303 yuan/ton, an increase of 65 yuan/ton from the previous trading day. From the perspective of supply, the output of medium plates continues to rise. Except for Handan, the steel mills in the north have basically resumed production, which will bring certain supply pressure to the market, but the high point will be limited. In terms of circulation, both market speculation and downstream demand have improved significantly recently, the outbound volume is picking up, and the social inventory of the medium board has declined for two consecutive weeks, and the circulation situation is developing in a positive direction. In terms of demand, the recovery of demand in the early stage was slow. Stimulated by the recent rise in disk prices and spot prices, the progress of terminal delivery of goods began to speed up. In addition, the gold three has arrived, and short-term demand continued to pick up.