Steel market prices on May 19, 2022

Construction steel: On May 19, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,832 yuan/ton, down 42 yuan/ton from the previous trading day. This week, due to the loss and reduction of production by steel mills, the output of rebar decreased slightly, the factory inventory continued to rise, and the social inventory continued to decline, while apparent consumption declined slightly. In the short term, the current market fundamentals are still weak, but due to the continuous decline in prices, steel mills in some regions have reduced production and stopped production, and the supply remains low. With the gradual easing of the epidemic, the steel consumption side is expected to gradually recover, and the overall downward space for steel prices is limited.

Hot-rolled coil: On May 19, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4,924 yuan/ton, down 43 yuan/ton from the previous trading day. The epidemic situation in relevant key cities has been improved to varying degrees recently, but the market demand is still under obvious pressure, and there has not been a significant improvement. However, the current market price has broken down the profits of steel mills, and the enthusiasm of steel mills to increase production is not strong, and the short-term supply will still remain relatively low.

Cold-rolled coil: On May 19, the average price of 1.0mm cold coil in 24 major cities across the country was 5,487 yuan/ton, down 48 yuan/ton from the previous trading day. The mentality of traders is relatively pessimistic, and the market quotations are chaotic. In terms of inventory, according to incomplete statistics from Mysteel, the inventory of cold-rolled steel mills this week was 441,400 tons, an increase of 10,900 tons from the previous week; the social inventory was 1,372,900 tons, an increase of 4,800 tons from the previous week.

Medium and heavy plate: On May 19, the average price of 20mm common plate in 24 major cities across the country was 5,158 yuan/ton, down 44 yuan/ton from the previous trading day. According to the weekly production and inventory data of Mysteel, the output of medium plate increased by 7,300 tons this week, the factory warehouse increased by 37,200 tons, and the social warehouse increased by 19,200 tons. From the current point of view, there is a trend of hot metal shifting from long products to flat products this week, and the market sales pressure is relatively large. Terminals are gradually resuming work and production, and market demand is gradually recovering. However, due to the downward price stage, market confidence has been frustrated, and some merchants have high prices. Reported to sell low, the pressure of market competition intensified.