Steel price in the market on August 12, 2024

Threaded steel: On August 12th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3297 yuan/ton, a decrease of 42 yuan/ton from the previous trading day. In the short term, market demand remains sluggish. At the same time, the current market is still in the off-season of consumption, and the supply-demand contradiction has not significantly eased due to the reduction of production by steel mills. Coupled with the recent transition of new and old standard resources for rebar, market prices are relatively chaotic.

Hot rolled coils: On August 12th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3360 yuan/ton, a decrease of 64 yuan/ton from the previous trading day. At present, the demand for steel is weak, and some regional traders have frequent risks. The market sentiment is pessimistic, and steel mills continue to suffer losses. The negative feedback of the industrial chain continues, and the black chain has collectively declined. At present, the steel terminal market is still in the off-season of the industry, and downstream demand is difficult to increase. The production of molten iron has significantly decreased, raw material costs have collapsed, and steel prices may continue to show a weak trend.

Cold rolled coils: On August 12th, the average price of 1.0mm cold coils in 24 major cities across the country was 3879 yuan/ton, a decrease of 31 yuan/ton from the previous trading day. Specifically, on the 12th, the futures hot roll market experienced a sharp drop, and the market sentiment was mostly pessimistic. Merchants took the initiative to lower prices, but the current market demand is relatively limited, and the price drop has not driven the improvement of transactions. At present, the supporting factories of the main engine manufacturers are still on high temperature holidays, with limited demand. In order to avoid risks, reduce capital and inventory pressure, operations mainly focus on selling at a discount and withdrawing funds.

Medium thick plate: On August 12th, the average price of 20mm ordinary plate in 24 major cities across the country was 3437 yuan/ton, a decrease of 49 yuan/ton from the previous trading day. On the market side, the black futures market fluctuated downward on the 12th. In terms of transactions, the overall transaction volume of the national mid board is poor, and downstream demand in various markets has almost stagnated, resulting in a decrease in inquiry volume. In terms of mentality, although most traders still lack confidence in the future market, some merchants who lost money in the early stage have a strong bullish mentality and do not temporarily ship due to low inventory pressure.