Steel price in the market on April 23, 2024

Screw thread steel: On April 23rd, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 3794 yuan/ton, a decrease of 7 yuan/ton from the previous trading day. The current bottom support is still strong, but some merchants have recovered their profit margins well after the initial price increase. Currently, under the active arbitrage behavior of merchants, there are more low-priced resources.

Hot rolled coil: On April 23rd, the average price of 4.75mm hot rolled coil in 24 major cities across the country was 3829 yuan/ton, a decrease of 7 yuan/ton from the previous trading day. Recently, the market supply has been consolidating at a high level, and inventory remains at a high level. The market has rebounded to a certain extent, and the sentiment of traders has eased. In the near future, the prices of hot-rolled coils may continue to fluctuate.

Cold rolled coils: On April 23rd, the average price of 1.0mm cold coils in 24 major cities across the country was 4393 yuan/ton, a decrease of 4 yuan/ton from the previous trading day. On the 23rd, the prices of hot rolled futures were weak, and the trading atmosphere in the spot market was slightly poor, with both prices and trading volume showing a downward trend. It is reported that the price difference between cold and hot continues to narrow, and the market has released some replenishment demand. The support at the bottom of cold-rolled sheet coils has increased, and the short-term supply-demand contradiction has slightly eased. However, it cannot be ignored that the current pace of inventory destocking in the market is still slow, with high levels of inventory consolidation in the East and South China regions.

Medium thick plate: On April 23rd, the average price of 20mm regular plate in 24 major cities across the country was 3906 yuan/ton, a decrease of 1 yuan/ton from the previous trading day. The futures market fluctuated and fell, with a cold trading atmosphere and overall poor trading performance. According to market feedback, there has been a slight decrease in demand due to weather factors in the near future. However, with the rebound in molten iron production and the May Day holiday, steel mills may start restocking. Currently, there is still speculation for a third round of price increase in double coke, and it is expected that there is still room for spot prices to increase in the future.