Steel price in the market on August 20, 2024

Threaded steel: On August 19th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3208 yuan/ton, an increase of 3 yuan/ton from the previous trading day. In the short term, the current market is still in a state of rotation between new and old national standards, and there is still an imbalance between supply and demand. But with the gradual digestion of old standard resources and the recent reduction in production by some steel mills due to losses, the supply pressure has significantly eased.

Hot rolled coils: On August 19th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3156 yuan/ton, a decrease of 28 yuan/ton from the previous trading day. Overall, there is insufficient demand in the manufacturing industry, the fundamentals of hot coil have deteriorated, and the price difference between coils and snails continues to narrow. Macro data is relatively weak, and negative feedback fermentation in the industrial chain also leads to insufficient price support from the cost side. At present, there is a differentiation in the strength of fundamentals, and the demand for finished products is still weak. The determination of steel mills to continue tightening supply is not strong.

Cold rolled coils: On August 19th, the average price of 1.0mm cold coils in 24 major cities across the country was 3748 yuan/ton, a decrease of 25 yuan/ton from the previous trading day. Specifically, downstream users are currently cautious in purchasing goods, mainly based on fixed orders. The release of market demand is not continuous, and the overall transaction performance has not met expectations. In terms of mentality, there has been no significant increase in market demand, and the market mentality remains cautious. Currently, the main focus is on actively shipping and recovering funds.

Medium thick plate: On August 19th, the average price of 20mm ordinary plate in 24 major cities across the country was 3243 yuan/ton, a decrease of 23 yuan/ton from the previous trading day. On the 19th, the overall transaction volume of the national mid board was average, and downstream demand in various markets was poor. End customers still had a mentality of purchasing on demand, but the number of inquiries increased, and the attitude of waiting and observing procurement remained unchanged. In terms of mentality, sheet metal traders are not optimistic about the future market despite slow destocking and continuous price declines, but there are still some individual traders who are bullish.