Steel price in the market on November 27, 2023

Screw thread steel: On November 27th, the average price of 20mm three-level seismic resistant screw thread steel in 31 major cities across the country was 4074 yuan/ton, an increase of 7 yuan/ton from the previous trading day. In the short term, driven by the rise of dual focus futures, the futures spiral turns red, market sentiment recovers, and there is some support on the cost side, while there is still disturbance on the spot sentiment side.

Hot rolled coil: On November 27th, the average price of 4.75mm hot rolled coil in 24 major cities nationwide was 4039 yuan/ton, an increase of 4 yuan/ton from the previous trading day. The pattern of strong macro expectations has not changed, even though weak real demand is under pressure, the double focus futures have risen strongly, and the main hot spot futures still maintain a high level of volatile operation. From the perspective of supply and demand, the demand for steel still has resilience, and seasonal destocking is still good, but the variety performance is differentiated.

Cold rolled coil: On November 27th, the average price of 1.0mm cold coil in 24 major cities nationwide was 4747 yuan/ton, an increase of 2 yuan/ton compared to the previous trading day. On the 27th, hot rolled futures fluctuated at a high level. Although a small number of cities have raised market spot prices supported by costs, most market prices remain stable. According to feedback from some traders in East China, the overall demand in the current market is average. In terms of mentality, the recent trend of black futures is uncertain, and traders mostly believe that it is the impact of macroeconomic good news, which has little impact on actual demand, and still remains cautious for the future market.

Medium thick plate: On November 27th, the average price of 20mm regular plate in 24 major cities across the country was 4048 yuan/ton, an increase of 5 yuan/ton compared to the previous trading day. On the 27th, the futures market fluctuated upwards, with businesses on the East China Medium Board taking the lead in a small increase in early trading. However, entering the traditional off-season, downstream demand has not significantly increased recently, and most businesses have made average transactions. Therefore, spot prices for medium and thick boards in some markets remained stable throughout the day, with insufficient upward momentum. In terms of resources, although there are not many new resources arriving in some markets, the speed of medium and thick plate destocking is currently slow, and the spot inventory of medium and thick plates in most markets has not changed much.