Steel price in the market on February 21, 2024

Screw thread steel: On February 21st, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 4024 yuan/ton, a decrease of 9 yuan/ton from the previous trading day. In the short term, there are many news factors in the near future, and under the market's long short game, sentiment will continue to affect the trend of steel prices.

Hot rolled coil: On February 21st, the average price of 4.75mm hot rolled coil in 24 major cities across the country was 4060 yuan/ton, a decrease of 7 yuan/ton from the previous trading day. There is good demand for low-priced speculation in some active areas, and overall, low price transactions are still acceptable in the morning, with a majority of wait-and-see in the afternoon. Market sentiment remains cautious, and overall transactions are generally weak. To sum up, the resumption of terminal production is mostly concentrated after the Yuanxiao (Filled round balls made of glutinous rice-flour for Lantern Festival) Festival, and terminal demand has not been significantly started, and the recent cold wave may further hamper the resumption of production.

Cold rolled coil: On February 21st, the average price of 1.0mm cold coil in 24 major cities across the country was 4737 yuan/ton, a decrease of 5 yuan/ton from the previous trading day. Most spot prices in the market are mainly stable, while some market merchants have slightly reduced prices due to inventory pressure. In terms of transactions, the terminal has not yet fully released a new round of procurement demand, and the overall market transactions are relatively quiet. In terms of mentality, influenced by the sentiment of "buying up instead of buying down", the market mentality is more cautious, and merchants tend to reduce inventory and make transactions.

Medium thick plate: On February 21st, the average price of 20mm regular plate in 24 major cities across the country was 4150 yuan/ton, a decrease of 9 yuan/ton from the previous trading day. Due to the poor trading performance of the medium and thick board in the market in recent days, most merchants have an unstable mentality. Throughout the day, merchants still choose to exchange price for quantity, and the overall price support is insufficient. In terms of resources, due to the average destocking speed of medium and thick plates in the market in recent days, and the continuous replenishment of new resources, the spot inventory of medium and thick plates in some markets continues to rise.