Steel price in the market on January 23, 2024

Screw thread steel: On January 23rd, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 4032 yuan/ton, an increase of 6 yuan/ton from the previous trading day. In the short term, as the end of the year approaches, businesses will mainly focus on recovering funds. As demand gradually weakens, market prices will also gradually transition smoothly.

Hot rolled coil: On January 23, the average price of 4.75mm hot rolled coil in 24 major cities across the country was 4084 yuan/ton, an increase of 6 yuan/ton from the previous trading day. The spot market saw an early increase in quotes and average transactions, with no significant fluctuations throughout the day. Overall, as the Spring Festival approaches, the demand side of the market gradually weakens, and there will be slight replenishment behavior, but less; On the supply side, the market is about to enter a period of accumulation, but from the current perspective, the overall inventory pressure on traders is not significant. The shipping sentiment of traders is relatively low, and most traders are collecting debts, recovering funds, and preparing for the Chinese New Year. The raw material side is still operating strongly, and the high cost of steel mills has led to high and fluctuating prices of finished products.

Cold rolled coil: On January 23rd, the average price of 1.0mm cold coil in 24 major cities across the country was 4740 yuan/ton, unchanged from the previous trading day. According to feedback from some merchants, although it is currently in the off-season of demand, with the introduction of macroeconomic policies to stabilize market sentiment, some terminals have winter storage operations to prepare for future order demand. Market transactions were still acceptable on the 23rd. In terms of mentality, the current market is in a situation of weak supply and demand, and traders believe that there may still be room for a decline in market demand before the year, and are still cautious about the future market.

Medium thick plate: On January 23rd, the average price of 20mm regular plate in 24 major cities across the country was 4127 yuan/ton, an increase of 7 yuan/ton compared to the previous trading day. Overall, the prices of raw materials remain high, providing some support for finished products, and spot prices are prone to rise but difficult to fall. The current market inventory continues to decline, with some merchants having reduced inventory and a strong willingness to raise prices, resulting in a significant difference in market prices. In terms of demand, we are currently in the off-season of seasonal demand, with a significant reduction in terminal orders. Traders are still cautious and cautious about the future market situation.