Steel price in the market on March 4, 2024

Screw thread steel: On March 4th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 3938 yuan/ton, a decrease of 33 yuan/ton from the previous trading day. Recently, there has been a slight recovery in demand, but the price of snails has been continuously declining, and the market sentiment has been poor. Many merchants are mainly selling at reduced prices. At the same time, the recent performance of raw material prices has been poor, coupled with increased rainfall weather, and market demand has recovered less than expected.

Hot rolled coil: On March 4th, the average price of 4.75mm hot rolled coil in 24 major cities nationwide was 4018 yuan/ton, a decrease of 20 yuan/ton from the previous trading day. In recent times, the market supply has remained high, with high inventory in the finished material market and weak demand, resulting in overall weak prices and low enthusiasm for terminal procurement. Overall, in the face of sustained weak demand, the prices of hot-rolled coils may continue to fluctuate and remain weak in the near future.

Cold rolled coil: On March 4th, the average price of 1.0mm cold coil in 24 major cities across the country was 4698 yuan/ton, a decrease of 11 yuan/ton from the previous trading day. According to feedback from traders, some steel mills in the southwest region have announced a significant increase in settlement prices at the end of the month compared to the previous month. In terms of mentality, most traders have reported that there is basically no profit margin, coupled with dismal terminal demand and overall poor shipments, and their mentality remains pessimistic.

Medium thick plate: On March 4th, the average price of 20mm regular plate in 24 major cities across the country was 4120 yuan/ton, a decrease of 13 yuan/ton from the previous trading day. It is understood that low-priced resource transactions in North China and East China were still possible on the 4th, while transactions in South China and Southwest China were relatively weak. Currently, the overall market is in the stage of downstream demand recovery, and the demand for futures is showing a growth trend. Even though futures are floating green, the actual transactions on the day were better than expected. In terms of resources, last week's medium plate resources arrived at the port and were stored normally. The actual weekly production of the steel plant was 1.4524 million tons, an increase of 41500 tons compared to the previous week; The social inventory was 1.5693 million tons, an increase of 37100 tons compared to the previous period. Overall, market demand is slowly recovering, with a focus on macro news and downstream conditions.