Steel price in the market on June 24, 2024

Screw thread steel: On June 24th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 3632 yuan/ton, a decrease of 41 yuan/ton from the previous trading day. In the short term, there is no significant improvement in downstream demand due to the driving factors, and the seasonal decline in demand caused by high temperature and rainy weather is evident. The contradiction in the thread fundamentals is accumulating.

Hot rolled coil: On June 24th, the average price of 4.75mm hot rolled coil in 24 major cities nationwide was 3735 yuan/ton, a decrease of 29 yuan/ton from the previous trading day. Weak terminal demand remains the main factor currently suppressing steel prices, coupled with continuous heavy declines in the domestic stock market, the overall market atmosphere is weak. From a macro perspective, LPR has remained unchanged for four consecutive months. Currently, the recovery of the real estate market is still relatively slow, coupled with frequent extreme weather, high temperatures in the north and floods in the south, leading to a certain degree of decline in demand.

Cold rolled coil: On June 24th, the average price of 1.0mm cold coil in 24 major cities across the country was 4237 yuan/ton, a decrease of 19 yuan/ton from the previous trading day. On the 24th, the hot rolled futures market saw a weak performance, driving spot prices down. The trading atmosphere in the market was relatively cold, and some traders experienced a slight decline to accelerate shipments. The overall trading performance during the day was average. At present, the market demand is still sluggish, and the enthusiasm of end customers to actively place orders is low. Transactions are mostly concentrated in low-priced resources, while transactions with high priced resources are difficult. In terms of mentality, due to insufficient market demand support, short-term merchants tend to adopt a cautious and wait-and-see attitude towards the future market trends.

Medium thick plate: On June 24th, the average price of 20mm regular plate in 24 major cities across the country was 3788 yuan/ton, a decrease of 26 yuan/ton from the previous trading day. According to market feedback, transactions were light on the 24th, and downstream customers were not in a hurry to purchase. In addition, there was a phenomenon of reneging on orders after most cities lowered prices again in the afternoon, and traders with large inventory were anxious. At present, cost support is weakening, and steel mills have average profits. However, production enthusiasm has not significantly weakened, and the output of the entire medium plate factory has increased instead of decreasing, while the liquidity of resources in the north and south has weakened.