Steel price in the market on January 2, 2024

Screw thread steel: On January 2nd, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 4085 yuan/ton, an increase of 11 yuan/ton from the previous trading day. In the early trading session, the snail market opened high and fluctuated, welcoming a good start to the market. In the morning, some construction steel in major cities in China rose, with a few remaining stable. In terms of transactions, on the first day after the holiday, the futures screw opened higher and rose, and merchants reported that the overall shipment situation was significantly better than the previous day.

Hot rolled coil: On January 2nd, the average price of 4.75mm hot rolled coil in 24 major cities nationwide was 4112 yuan/ton, an increase of 9 yuan/ton from the previous trading day. Black commodity futures fluctuated upwards, with a slight increase in early morning quotes in the spot market and average trading. In the afternoon, the market fluctuated at a high level, but some regions saw a slight increase after trading improved. Overall, the raw material end continues to rise strongly, with strong support for finished product prices. The shortage situation in some regions has increased, and traders have a strong willingness to raise prices. But the actual demand is still poor, and terminal procurement is still mainly based on on-demand procurement.

Cold rolled sheet and coil: On January 2nd, the spot price of cold rolled sheet and coil in China remained stable and trending towards strength, with a national average price of 4766 yuan/ton, an increase of 1 yuan/ton compared to the previous trading day. Futures operate with narrow fluctuations, and spot market quotes are mostly stable. According to feedback from merchants, the overall market pressure is not significant at present, and the post holiday inventory accumulation is not significant. In terms of demand, although today is the first working day after the holiday, due to the generally average downstream consumer orders, on-demand procurement is the main focus, and today's transaction performance is relatively average. In terms of mentality, steel mills currently have a strong bullish willingness, with high resource cost prices, and many businesses are cautious and cautious.

Medium thick plate: On January 2nd, the average price of 20mm regular plate in 24 major cities across the country was 4120 yuan/ton, an increase of 5 yuan/ton compared to the previous trading day. The futures market fluctuated upwards, boosting market sentiment, and overall trading was average. According to market feedback, there is still some support for macro expectations, and the market still has expectations for the release of favorable policies. Social inventory continues to accumulate, with obvious off-season characteristics. On the cost side, steel mills have not yet started large-scale winter storage and replenishment. The expectation of replenishment provides support for furnace materials, and cost support is temporarily sufficient. Overall, strong expectations and high costs continue to dominate the market trend, but demand performance is weak and market sentiment tends to be cautious.