Steel price in the market on October 14, 2024

Threaded steel: On October 14th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3901 yuan/ton, an increase of 15 yuan/ton from the previous trading day. In the short term, macroeconomic policies have been continuously favorable, and the market mentality is relatively positive. However, due to the significant increase in profits of steel mills recently, market supply pressure has rebounded, and the fundamental contradiction between supply and demand has accumulated.

Hot rolled coils: On October 14th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3690 yuan/ton, unchanged from the previous trading day. On the 14th, the spot market quotation fluctuated narrowly, and the trading atmosphere in the market was cautious, with average transactions. From the supply side, the profitability of steel mills has improved and production enthusiasm is still acceptable, with a slight increase in hot-rolled coil production. From the demand side, market sentiment has returned to rationality, traders' willingness to replenish inventory is average, speculative demand has weakened, and downstream terminals have a strong wait-and-see sentiment.

Cold rolled coils: On October 14th, the average price of 1.0mm cold coils in 24 major cities across the country was 4263 yuan/ton, a decrease of 2 yuan/ton from the previous trading day. On the 14th, the hot coil futures market fluctuated, with market prices fluctuating. The trading atmosphere in the market was average, and end users were cautious in their purchases, mainly purchasing on demand. According to feedback from some East China traders, due to weak enthusiasm for end purchases, market merchants gave end users some bargaining space. The overall transaction situation during the day was average, and the market's wait-and-see sentiment remained strong, resulting in continued sales pressure in the market.

Medium thick plate: On October 14th, the average price of 20mm ordinary plate in 24 major cities across the country was 3782 yuan/ton, an increase of 4 yuan/ton from the previous trading day. The northern market, such as Handan, currently has slow delivery speeds from steel mills and low inventory of medium plates, resulting in poor recent transactions. The transaction volume of the East China and Southwest China medium boards is average, and overall it is not as good as last Saturday, resulting in a decrease in market activity.