Steel price in the market on November 5, 2024

Threaded steel: On November 4th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3584 yuan/ton, a decrease of 22 yuan/ton from the previous trading day. On the one hand, recently, temperatures have started to cool down across the country, and market demand is gradually weakening; On the other hand, frequent domestic and international macro events may have a certain impact on commodity market prices, and there are still favorable factors at the policy level to stimulate.

Hot rolled coils: On November 4th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3576 yuan/ton, a decrease of 1 yuan/ton from the previous trading day. Market fluctuations are mainly influenced by emotions and expectations. The recovery of the manufacturing industry's prosperity level to some extent supports market sentiment. However, before the incremental policies expected by the market are implemented, there is a strong wait-and-see attitude, cautious transactions, and a gradual decline in terminal demand procurement volume.

Cold rolled coils: On November 4th, the average price of 1.0mm cold coils in 24 major cities across the country was 4169 yuan/ton, a decrease of 6 yuan/ton from the previous trading day. On the 4th, the price of black futures fluctuated upwards, and most markets for cold-rolled coils lacked the momentum to keep up with the rise. Even some markets have not stopped falling, but the good performance of futures has to some extent enhanced market purchasing enthusiasm, and intraday transactions have slightly improved.

Medium thick plate: On November 4th, the average price of 20mm ordinary plate in 24 major cities across the country was 3639 yuan/ton, a decrease of 10 yuan/ton from the previous trading day. On the 4th, the futures market fluctuated upwards, with some release of downstream purchases. The trading volume was still acceptable throughout the day, but the market sentiment remained cautious.