Steel price in the market on July 8, 2024

Screw thread steel: On July 8th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 3626 yuan/ton, a decrease of 34 yuan/ton from the previous trading day. In the short term, after the decline of futures, most terminals have slowed down their procurement pace. In addition, due to the current high temperature weather, the operating time of terminals has been reduced, so demand continues to decline.

Hot rolled coil: On July 8th, the average price of 4.75mm hot rolled coil in 24 major cities across the country was 3718 yuan/ton, a decrease of 22 yuan/ton from the previous trading day. The important meeting in July is approaching, but the expectations of market speculation are not very strong, and the previous emotional drive for price increases lacks support from increased demand. The mentality of market traders is currently poor, with a strong sense of pessimism. In addition, the production of molten iron has already reached its peak, with limited expectations for the high level of replenishment of raw materials, and cost support is also weak.

Cold rolled coil: On July 8th, the average price of 1.0mm cold coil in 24 major cities across the country was 4181 yuan/ton, a decrease of 21 yuan/ton from the previous trading day. On the afternoon of the 8th, the price of hot rolled futures plummeted significantly, and the market sentiment was mostly pessimistic. Merchants took the initiative to lower prices, but the current market demand is relatively limited, and the price drop has not led to an improvement in transactions. It is reported that the relationship between the price of cold-rolled sheet coils and futures hot coils is often characterized by falling and difficult to rise when encountering a rise. Therefore, the price difference between cold and hot coils continues to narrow, and it is difficult to repair it in a short period of time. Due to the unilateral decline in spot prices for cold rolling in the previous year, short-term merchants are mostly cautious and cautious about the future market trend.

Medium thick plate: On July 8th, the average price of 20mm regular plate in 24 major cities across the country was 3751 yuan/ton, a decrease of 16 yuan/ton from the previous trading day. On the 8th, the hot rolled futures market fluctuated downward. In the morning, traders held a wait-and-see attitude, and the early morning prices were high for shipment. However, the trading atmosphere in the market was poor, with few inquiries. At noon, the general board fell 20 yuan/ton, and in the afternoon, it fell another 10 yuan/ton. Overall, market demand is weak, resource consumption is slow, and traders are still mainly active in shipping operations.