Steel price in the market on November 18, 2024

Threaded steel: On November 18th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3429 yuan/ton, a decrease of 23 yuan/ton from the previous trading day. The demand in the off-season is gradually weakening, and most construction sites mainly rely on on-demand procurement. The overall steel consumption is relatively average, and the market mentality is cautious.

Hot rolled coils: On November 18th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3536 yuan/ton, an increase of 6 yuan/ton from the previous trading day. From the perspective of downstream demand, the marginal slowdown pressure on downstream demand has increased, and currently speculative demand in the market is gradually weakening, resulting in relatively slow resource transactions. From the perspective of supply, the profitability of steel mills has continued to decline, and the daily average iron water volume has increased. The off-season market may gradually confirm, and the supply remains strong, with a weakened supply-demand structure.

Cold rolled coils: On November 18th, the average price of 1.0mm cold coils in 24 major cities across the country was 4173 yuan/ton, an increase of 1 yuan/ton from the previous trading day. On the 18th, the price of black futures fluctuated upwards, and most cold-rolled coil markets lacked the momentum to follow suit. The spot market quotes were mainly stable, but the good performance of futures to some extent enhanced market purchasing enthusiasm, and intraday transactions slightly improved.

Medium thick plate: On November 18th, the average price of 20mm ordinary plate in 24 major cities across the country was 3605 yuan/ton, a decrease of 1 yuan/ton from the previous trading day. Although the black futures market rose on the 18th, spot market transactions continued to decline in the early stage, and traders were cautious about the future outlook, only attempting to explore a slight increase with slightly better shipments; At present, the production of medium plate steel mills is not decreasing, but the delivery speed is slow, the market inventory is not high, and the demand is lower than expected. Overall, it still presents a basic situation of weak supply and demand.