Steel price in the market on May 13, 2024

Screw thread steel: On May 13th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 3817 yuan/ton, a decrease of 3 yuan/ton from the previous trading day. In the short term, stimulated by favorable macroeconomic policies, market sentiment has improved. However, the recent fifth round of coke price increase has not been implemented, which has put some pressure and weakened cost support.

Hot rolled coil: On May 13th, the average price of 4.75mm hot rolled coil in 24 major cities across the country was 3817 yuan/ton, a decrease of 1 yuan/ton from the previous trading day. As trillions of ultra long term treasury bond are about to be released, market analysis shows that the policy of reducing reserve ratio and interest rate in May and June is likely to be implemented, market sentiment is gradually recovering, and steel futures are on the rise. From the perspective of demand, the performance of steel demand is relatively sluggish, and the poor transaction level reflects a decline in demand, which has led to a recent price decline.

Cold rolled coil: On May 13th, the average price of 1.0mm cold coil in 24 major cities across the country was 4358 yuan/ton, a decrease of 6 yuan/ton from the previous trading day. According to market feedback, the black series futures market was slightly stronger on the 13th, but the release of demand in the cold rolling market was slow, and the turning point of inventory depletion has not yet appeared. Traders still choose to sell at a lower price to ensure transactions. According to feedback from Southwest traders, the ordering speed of some supporting suppliers in the host factory has recently decreased, and the market's cold rolling trading volume has changed significantly, with daily transactions ranging from 20 tons to 400 tons. The market's consumption of inventory is slow, and there is price competition among traders, making it difficult for prices to rise.

Medium thick plate: On May 13th, the average price of 20mm regular plate in 24 major cities across the country was 3898 yuan/ton, a decrease of 4 yuan/ton from the previous trading day. On the afternoon of the 13th, black series futures rose, with nationwide trading volume increasing throughout the day. There were more inquiries for spot resources, and purchasing sentiment rose. The market trading atmosphere improved, but recent transactions in major cities in Southwest China have been weak. In the short term, the market has shown a fundamental trend of supply and demand being balanced recently, and most merchants are still cautious about their future outlook.