Steel price in the market on May 27, 2024

Screw thread steel: On May 27th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 3869 yuan/ton, a decrease of 21 yuan/ton from the previous trading day. In the short term, there is a slight pullback in the futures market, with average market sentiment and little change in terminal demand.

Hot rolled coil: On May 27th, the average price of 4.75mm hot rolled coil in 24 major cities nationwide was 3855 yuan/ton, a decrease of 12 yuan/ton from the previous trading day. If the enthusiasm of steel mills to resume production continues to be good, the increment of molten iron will continue to boost the raw material end, and it will also form a positive feedback on steel prices. Although there is a technical pullback momentum after experiencing a rapid rise in the early stages, cost support is still present.

Cold rolled coils: On May 27th, the average price of 1.0mm cold coils in 24 major cities across the country was 4345 yuan/ton, a decrease of 4 yuan/ton from the previous trading day. According to feedback from some traders in East China, there were few purchases from downstream terminals on weekends, and shipments were poor on weekends. In addition, the 27th futures market had a poor trend, and downstream terminals had a low willingness to purchase and replenish inventory, resulting in average overall trading performance during the day. In terms of the market, many traders believe that the current market is still in a situation of oversupply, and the market is about to enter the traditional off-season, so there may be little room for market demand to rise.

Medium thick plate: On May 27th, the average price of 20mm regular plate in 24 major cities across the country was 3927 yuan/ton, a decrease of 5 yuan/ton from the previous trading day. On the 27th, downstream procurement was not active, speculation decreased compared to last week, and traders with large inventory had a poor mentality. In terms of resources, the current output of steel mills is not decreasing, and the fundamentals are showing a state of strong supply and balanced demand. Traders are not willing to lock in prices. The price difference between the north and south has narrowed, and some northern markets have already surpassed those in the south in terms of medium plate prices. The overall liquidity of medium plate resources between the north and south is average.