Steel market prices on September 26, 2022

Construction steel: On September 26, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,122 yuan/ton, down 3 yuan/ton from the previous trading day. In the short term, with the implementation of the Fed's interest rate hike last week, the "bad" news in the market was basically digested, and the steel market returned to the basic supply and demand. With the continued development of the policy of stabilizing growth, the demand side is expected to continue to be released.

Hot-rolled coil: On September 26, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4,032 yuan/ton, down 6 yuan/ton from the previous trading day. This week, the market supply is expected to decline to a certain extent, and maintenance will increase in the short term, but the sharp drop in supply may not be large. The demand has rebounded slightly from the previous month, but it is still weak year-on-year. The contradiction between supply and demand continues to accumulate, and the National Day is approaching. There may be a certain release of demand this week, but we need to be alert to the possibility of price declines and policy fluctuations after the 11th.

Cold-rolled coil: On September 26, the average price of 1.0mm cold coil in 24 major cities across the country was 4,486 yuan/ton, down 1 yuan/ton from the previous trading day. Near the end of the month, merchants mainly focus on returning funds from shipments, and some markets have secretly dropped shipments, and transactions are tepid. In terms of mentality, futures have weakened again, resulting in a relatively deserted market trading atmosphere. This week is the last week before the National Day. Some market merchants are cautious, and they are not willing to stock up before the holiday, and they mainly purchase on demand.

Medium and heavy plate: On September 26, the average price of 20mm common plate in 24 major cities across the country was 4,206 yuan/ton, down 5 yuan/ton from the previous trading day. In terms of steel mills, the factory lock price has been reduced by more than 20 yuan / ton, and orders will continue to be expanded. At present, the market merchants' attitude is mainly wait-and-see. It is reported that this year, the advanced manufacturing industry in Europe has made more domestic investment, but there is no obvious support for the short-term demand increase. Therefore, the mentality of merchants is mostly firm before the festival, and wait and see after the festival.