Steel price in the market on October 21, 2024

Threaded steel: On October 21st, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3706 yuan/ton, a decrease of 18 yuan/ton from the previous trading day. Recently, macroeconomic policies have been continuously introduced, and the market mentality is still acceptable. However, the supply continues to rise and the demand performance is mediocre.

Hot rolled coils: On October 21st, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3546 yuan/ton, an increase of 9 yuan/ton from the previous trading day. The trading volume of the spot market fluctuates with market sentiment, and speculative behavior gradually weakens, mainly driven by actual demand. Although the profits of steel companies have shrunk, the profit per ton of steel is still considerable, and the production enthusiasm has not decreased. The expected increase in supply in the future will put pressure on the period price.

Cold rolled coils: On October 21st, the average price of 1.0mm cold coils in 24 major cities across the country was 4173 yuan/ton, a decrease of 8 yuan/ton from the previous trading day. On the 21st, 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 October 21st, the average price of 20mm ordinary plate in 24 major cities across the country was 3658 yuan/ton, an increase of 3 yuan/ton from the previous trading day. On the 21st, futures saw a narrow rise, but the trading atmosphere in the market was average, and mid board transactions fell short of expectations of price increases. After the morning price increase, some markets experienced a hidden decline in resources, and downstream purchasing enthusiasm was average, with a preference for low-priced transactions. From a fundamental perspective, steel mills have seen a slight increase in supply and a decrease in demand, resulting in a narrow fluctuation in the supply of spot inventory resources on the medium board.