Steel price in the market on November 11, 2024

Threaded steel: On November 11th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3532 yuan/ton, a decrease of 51 yuan/ton from the previous trading day. In the short term, entering the off-season of consumption, market demand has gradually weakened, and the fundamental contradiction between supply and demand has intensified; At the same time, the second round of coke lifting and lowering may drive down costs.

Hot rolled coils: On November 11th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3560 yuan/ton, a decrease of 40 yuan/ton from the previous trading day. At present, the marginal slowdown pressure of terminal demand is increasing, and spot trading performance is deviating, leading to a weakening of demand for hot coils. In terms of supply, the operating rate and capacity utilization rate of steel mills' blast furnaces both decreased month on month last week, and the daily output of molten iron continued to drop to 2.3406 million tons, hitting a 4-week low. Both supply and demand weakened.

Cold rolled coils: On November 11th, the average price of 1.0mm cold coils in 24 major cities across the country was 4178 yuan/ton, a decrease of 16 yuan/ton from the previous trading day. On the 11th, the hot coil futures market fluctuated downwards, and the trading atmosphere in the market was relatively quiet. Most market prices followed the decline of the futures market. According to feedback from traders in East China, the trading situation was relatively average. Currently, downstream users are cautious about buying goods, mainly fixed orders. The release of market demand is not continuous, and the overall trading performance did not meet expectations. Traders are cautious and wait-and-see about the future market situation.

Medium thick plate: On November 11th, the average price of 20mm ordinary plate in 24 major cities across the country was 3632 yuan/ton, a decrease of 28 yuan/ton from the previous trading day. On the 11th, the futures market fluctuated downwards, and the spot prices of medium and thick plates fell multiple times throughout the day, with poor trading performance. Downstream purchases have basically stopped, and the overall sentiment of traders is relatively low. Last week, the actual production of medium and thick plates in the steel plant was 1.4109 million tons, a decrease of 30600 tons compared to the previous week.