Steel price in the market on January 20, 2025

Threaded steel: On January 20th, the average price of threaded steel in major cities across the country was 3473 yuan/ton, an increase of 5 yuan/ton from the previous trading day. Specifically, in the morning session, the futures market saw a consolidation at a high level, while domestic spot prices remained stable in the morning, with some areas experiencing an increase. In terms of transactions, as the Spring Festival holiday approaches, market participants are gradually leaving the city and returning home, and businesses are sporadically quoting prices, resulting in a significant decline in demand.

Hot rolled coils: On January 20th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3490 yuan/ton, an increase of 10 yuan/ton from the previous trading day. As the Spring Festival holiday approaches, market transactions have basically stagnated, and the driving force for the upward movement of steel futures prices is insufficient. On the same day, the market saw a reduction in holdings and a slight decline in the closing prices of hot coil main players. From the perspective of demand, due to the approaching Spring Festival, the performance of basic needs is poor, and the overall mood is weak.

Cold rolled coil: On January 20th, the spot price of cold-rolled coil in China remained stable with some increase, with a national average price of 4208 yuan/ton, an increase of 2 yuan/ton from the previous trading day. Specifically, the market prices are stable with some increase, and the trading atmosphere in the market is average. According to feedback from traders in East China, as the year-end approaches, terminal purchases are mainly for urgent needs to replenish inventory, and the actual transaction situation is average. Currently, merchants still focus on shipping. 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 January 20th, the average price of 20mm ordinary plate in 24 major cities across the country was 3538 yuan/ton, an increase of 12 yuan/ton from the previous trading day. The futures market fluctuated upwards, with most cities in North and South China experiencing a slight increase in mid board spot prices due to emotional fluctuations. As the Spring Festival holiday approaches, the initial market demand procurement has almost been fully released, and the mid board trading volume throughout the day has significantly decreased compared to last week, resulting in poor overall sales performance. From a supply perspective, there are currently more downstream lock up orders from medium plate factories. Steel mills mainly produced terminal orders before the New Year, while the delivery speed of long-term cooperative resources from traders is relatively slow. The market will still accumulate a small amount of inventory before the New Year, but the accumulated inventory is not large.