Steel price in the market on May 20, 2024

Screw thread steel: On May 20th, domestic construction steel prices fluctuated strongly. The average price of rebar in major cities across the country is 3872 yuan/ton, an increase of 23 yuan from the previous trading day. Specifically, the morning market saw strong fluctuations in snail prices, while domestic spot prices continued to rise in the morning. Boosted by recent positive news such as real estate, futures snail prices have continued to rise, and the market has a strong upward trend. Some merchants have stated that prices have continued to rise recently, but their high transaction performance is average.

Hot rolled coil: On May 20th, the average price of 4.75mm hot rolled coil in 24 major cities nationwide was 3852 yuan/ton, an increase of 12 yuan/ton from the previous trading day. Qigang opened high in the morning and then continued to adjust, with a daily increase of less than 1%. From a demand perspective, last week's data performance was good, with a decrease in inventory and an increase in table demand further driving up sentiment. As a result, the overall market price has been exploring higher. However, whether the demand increase can continue in the future still needs time to be verified.

Cold rolled sheet and coil: On May 20th, the spot price of cold rolled sheet and coil in China fluctuated strongly, with a national average price of 4349 yuan/ton, an increase of 4 yuan/ton compared to the previous trading day. The black futures market continued its upward trend last week, but the upward trend gradually narrowed, with some cities raising market prices. According to feedback from some traders in East China, the continuous rise in futures trading has driven procurement demand from some downstream terminals. In addition, there were few downstream purchases over the weekend. Today, downstream procurement demand was released, and the overall trading situation in the market was good.

Medium thick plate: On May 20th, the average price of 20mm regular plate in 24 major cities across the country was 3915 yuan/ton, an increase of 8 yuan/ton compared to the previous trading day. Futures saw a narrow rise, boosting the overall mentality of traders. Some market quotes have slightly increased, and the overall trading atmosphere is average. In terms of transactions, the current market demand is not as expected, and downstream procurement enthusiasm has shown weak year-on-year performance. The spot market demand needs to be further boosted, and transactions throughout the day are average. On the steel plant side, the operating rate and capacity utilization rate of the steel plant have fluctuated at high levels, and there are currently no plans for maintenance and production shutdown in the short term.