Steel price in the market on August 26, 2024

Threaded steel: On August 26th, the average price of threaded steel in major cities across the country was 3286 yuan/ton, an increase of 38 yuan/ton from the previous trading day. In the short term, on the one hand, the recent acceleration of the elimination of old standard resources has had a relatively small impact on the market; On the other hand, the expectation of the Federal Reserve cutting interest rates in the near future has increased, which is somewhat favorable for commodities, and at the same time, the supply-demand imbalance has eased recently.

Hot rolled coils: On August 26th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3238 yuan/ton, an increase of 51 yuan/ton from the previous trading day. At present, the further increase in production capacity control and the suspension of production capacity replacement mean that outdated production capacity can only face elimination, which is beneficial to the supply and demand structure of steel. From the perspective of demand, the improvement in previous transactions has not been sustained, and the demand is still relatively average. From a supply perspective, the long-term profitability has not improved, and against the backdrop of still weak terminal demand, negative feedback from the industrial chain may continue.

Cold rolled coil: On August 26th, the national price of cold-rolled coil fluctuated, with an average price of 3767 yuan/ton, an increase of 9 yuan/ton from the previous trading day. The hot coil futures market has risen strongly, and there has been an increase in inquiries and prices in the spot market, with most merchants exploring price increases. In terms of transactions, due to the recent rebound in prices and the increasing speculative demand in the market, there has been no actual improvement in terminal demand, and transactions still do not meet expectations.

Medium thick plate: On August 26th, the average price of 20mm ordinary plate in 24 major cities across the country was 3292 yuan/ton, an increase of 32 yuan/ton from the previous trading day. The futures market rose strongly, with spot prices slightly following suit. The market inquiry volume increased, and spot prices continued to rise after increased trading volume. The overall trading performance was good, downstream purchases were released, market speculation increased, and there were more bullish customers in the later stage.