Steel price in the market on March 11, 2024

Screw thread steel: On March 11th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities nationwide was 3796 yuan/ton, a decrease of 54 yuan/ton from the previous trading day. Recently, the futures market has continued to decline, and the market mentality is sluggish. In addition, winter storage merchants are facing losses, so they are reducing prices to cash out and stop losses. At present, market demand is still sluggish, and strong expectations for steel have turned to weak reality.

Hot rolled coil: On March 11th, the average price of 4.75mm hot rolled coil in 24 major cities across the country was 3911 yuan/ton, a decrease of 51 yuan/ton from the previous trading day. At present, the steel mill has no profit and inventory is being depleted, but the depletion is slow and the market has experienced a significant decline, resulting in downstream hesitancy to buy goods and a strong wait-and-see attitude, which has lowered the overall purchasing pace. The price is relatively low, the traders suffer serious losses, and the overall mentality is poor. Due to the accumulation of inventory after the year and weak downstream demand, the supply-demand contradiction is prominent.

Cold rolled coil: On March 11th, the average price of 1.0mm cold coil in 24 major cities across the country was 4618 yuan/ton, a decrease of 43 yuan/ton from the previous trading day. On the 11th, black futures fluctuated downward, with most cities lowering their market prices. According to statistics, the inventory of cold rolling in Southwest China has accumulated for four consecutive weeks, and market inventory pressure is gradually emerging. However, the performance of terminal demand is poor, and market confidence has been somewhat undermined. In March, major steel mills were not saturated with orders for various types of steel, and the market was in a situation of oversupply in the short term.

Medium thick plate: On March 11th, the average price of 20mm regular plate in 24 major cities across the country was 4050 yuan/ton, a decrease of 35 yuan/ton from the previous trading day. The current market lacks confidence and there is a certain level of price drop anxiety. Merchants across the country have lowered prices several times throughout the day, and currently in the buyer's market, there are even cases of customers quoting prices for shipment. In terms of transactions, it is understood that the nationwide transactions were poor on the 11th, and most customers who were able to make transactions were selling at low prices to prevent another weakening of the market on the 12th. According to feedback, downstream demand is weak, but there are also terminals for buying on dips.