Steel price in the market on March 25, 2024

Screw thread steel: On March 25th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 3718 yuan/ton, a decrease of 17 yuan/ton from the previous trading day. Last week, steel inventories reached a turning point, indicating a significant recovery in apparent demand. However, the enthusiasm for terminal procurement was weak on the 25th, and the market's outbound situation was significantly weaker than last Friday.

Hot rolled coil: On March 25th, the average price of 4.75mm hot rolled coil in 24 major cities nationwide was 3855 yuan/ton, a decrease of 10 yuan/ton from the previous trading day. The spot market saw a slight decline in early morning quotes and weak trading. In the afternoon, the futures market continued to be weak, and spot prices continued to decline, with no improvement in trading after the decline. The recent market performance has been in a stage of fluctuating adjustment after bottoming out and rebounding. Whether it can continue to rise still depends on whether demand can continue to rebound. Currently, prices are still at a low level, but terminal acceptance is not high.

Cold rolled coil: On March 25th, the average price of 1.0mm cold coil in 24 major cities across the country was 4509 yuan/ton, a decrease of 10 yuan/ton from the previous trading day. At present, although it has entered late March, there is still no significant improvement in demand, and intraday transactions are average. According to feedback from traders in the Southwest market, the amount of general materials invested by northern steel mills in April may decrease, and the pressure on the supply side may be eased to some extent. However, the phenomenon of short-term oversupply still exists. Although traders are actively reducing inventory, inventory pressure still exists at present.

Medium thick plate: On March 25th, the average price of 20mm regular plate in 24 major cities across the country was 3963 yuan/ton, a decrease of 7 yuan/ton from the previous trading day. It is understood that on the 25th, the trading volume of the general board in East and North China was still good, while the trading volume of low alloy was sluggish, mainly in the form of shipping, with fewer terminal purchases; However, the transactions of manganese in South China and Southwest China were not satisfactory. In terms of mentality, merchants from various regions currently have a biased attitude towards low alloy medium plates, fearing that major medium plate steel mills will ship more manganese plates in the future, and the price difference for ordinary manganese will gradually narrow, leading to continuous price hikes in the market.