Steel price in the market on December 9, 2024

Threaded steel: On December 9th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3469 yuan/ton, a decrease of 3 yuan/ton from the previous trading day. In the short term, with the recent high-level meetings, market expectations for favorable policies still exist, and at the same time, some steel mills have entered winter maintenance, resulting in a continued decline in production in the later stage. However, the expectation for future demand is weak, and manufacturers have a weak willingness to raise prices.

Hot rolled coils: On December 9th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3552 yuan/ton, unchanged from the previous trading day. Recently, there has been a decrease in the supply side, and the demand for finished products during the off-season is weak, which has led to a slight lack of confidence among manufacturers in the future market. The intraday futures prices have rebounded from their low levels, and the closing prices of hot rolled stocks have also remained relatively stable. The demand for hot coils is off-season, steel mills have poor sales, prices lack support, and the market is not optimistic about winter storage. Short term hot coil supply and demand are both weak, and the reduction in inventory has narrowed.

Cold rolled coils: On December 9th, the average price of 1.0mm cold coils in 24 major cities across the country was 4218 yuan/ton, an increase of 1 yuan/ton from the previous trading day. On the 9th, most of the spot prices in the market were stable, and the trading atmosphere in the market was relatively average. According to feedback from traders in East China, market transactions were relatively sluggish, and terminal replenishment was still mainly due to urgent needs. In terms of mentality, traders have reduced their order volume to avoid risks and reduce financial pressure, and are cautious about the future market situation.

Medium thick plate: On December 9th, the average price of 20mm ordinary plate in 24 major cities across the country was 3611 yuan/ton, a decrease of 1 yuan/ton from the previous trading day. Recently, there has been relatively little replenishment of new resources in the market, and with the gradual destocking, the spot inventory of medium and thick plates in most regions continues to decline, with severe shortages in the East China region. Furthermore, it is understood that currently most medium and thick plate manufacturers have not introduced winter storage policies, and traders do not have a particularly strong willingness to lock in prices and purchase goods.