Steel price in the market on December 2, 2024

Threaded steel: On December 2nd, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3463 yuan/ton, an increase of 18 yuan/ton from the previous trading day. In the short term, the core of market trading tends towards weak fundamentals, and considering the upcoming high-level meeting, there are still speculative expectations in terms of sentiment.

Hot rolled coils: On December 2nd, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3567 yuan/ton, an increase of 12 yuan/ton from the previous trading day. From the perspective of demand, the demand for hot coils is low during the off-season, and steel mills have poor sales, resulting in limited support for hot coil prices. The characteristics of the off-season in the north are obvious, and the current market demand is weakening, with a pessimistic sentiment. The situation of concentrated delivery is prominent, and with the gradual expansion of the price difference between the north and south, the process of northern materials moving south will accelerate, and the expectation of inventory accumulation will also increase.

Cold rolled coils: On December 2nd, the average price of 1.0mm cold coils in 24 major cities across the country was 4200 yuan/ton, an increase of 11 yuan/ton from the previous trading day. Due to the saturation of orders at the end of the steel mill, the resources flowing into the market have decreased, and there is a shortage of resources in some markets. Traders have reported a rebound in downstream procurement enthusiasm compared to the previous period, resulting in stable prices with a slightly stronger trend.

Medium thick plate: On December 2nd, the average price of 20mm ordinary plate in 24 major cities across the country was 3617 yuan/ton, an increase of 8 yuan/ton from the previous trading day. It is understood that the current inventory of the national mid board is not high, and some market resources have experienced a shortage of specifications. Coupled with the trend of futures turning red, traders have a strong mentality of exploring price increases, and the rise in mid board spot prices is relatively reasonable. In the short term, the production pace of steel mills remains stable, and the delivery speed is relatively slow; The market consumption performance is good, and the speed of destocking in the mid board is still acceptable.