Steel price in the market on June 3, 2024

Screw thread steel: On June 3rd, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 3790 yuan/ton, a decrease of 40 yuan/ton from the previous trading day. The recent macroeconomic benefits have been largely digested, but due to the ongoing contradiction between supply and demand fundamentals, the market mentality is poor.

Hot rolled coil: On June 3rd, the average price of 4.75mm hot rolled coil in 24 major cities nationwide was 3813 yuan/ton, a decrease of 21 yuan/ton from the previous trading day. Recently, the positive macro sentiment has cooled down, with the black series generally falling, and the overall market performance remains relatively average. The early energy-saving and carbon reduction plan had limited impact, resulting in insufficient market rebound. At the same time, with the decline in demand for PMI index, the overall demand for steel is weakening, and market expectations are further declining.

Cold rolled coil: On June 3rd, the average price of 1.0mm cold coil in 24 major cities across the country was 4320 yuan/ton, a decrease of 12 yuan/ton from the previous trading day. On the 3rd, black futures were weakly trading, with most cities experiencing a slight decrease in market prices, while a small portion of the market remained stable. According to feedback from some traders in East China, the current regional price difference is relatively small, and the circulation of market resources is gradually weakening. A large amount of market resources are tilted towards the terminals, and downstream terminals compare prices with each other, making it difficult for traders to increase prices.

Medium thick plate: On June 3rd, the average price of 20mm regular plate in 24 major cities across the country was 3895 yuan/ton, a decrease of 15 yuan/ton from the previous trading day. On the 3rd, the performance of black futures remained weak, with a poor trading atmosphere in the spot market, a sharp decrease in downstream procurement volume, and few inquiry customers. Recently, there has been a downward trend in prices, especially among traders who have seen an increase in inventory compared to the previous period, and their mentality is quite anxious. In terms of fundamentals, the inventory of medium board resources remains high, the speed of resource consumption slows down, and apparent demand weakens.