Steel price in the market on October 28, 2024

Threaded steel: On October 28th, the average price of threaded steel in major cities across the country was 3680 yuan/ton, an increase of 66 yuan/ton from the previous trading day. Specifically, in the morning session, the futures market continued its upward trend from Friday's night session and continued to rise, with some domestic spot prices showing a significant increase in the morning. In terms of transactions, the market showed a hot performance in the morning, but fell back from the high level in the afternoon. Some merchants reported a slight loosening of high-level resources, and the overall transactions were significantly better than the previous trading day.

Hot rolled coils: On October 28th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3615 yuan/ton, an increase of 81 yuan/ton from the previous trading day. The black variety continues its upward trend from last Friday, with an increase in macro optimistic expectations. Recently, the fundamental contradictions have not yet intensified, the pace of terminal procurement has slowed down, and the smoothness of steel mill inventory turning to social inventory has decreased. The supply-demand contradiction still exists.

Cold rolled coil: On October 28th, the spot price of cold-rolled coil in China was relatively strong, with a national average price of 4183 yuan/ton, an increase of 44 yuan/ton from the previous trading day. The hot coil futures market is running strongly, and the trading atmosphere in the market has rebounded. Speculation enthusiasm has increased, and spot prices have risen to varying degrees. According to feedback from traders in East China, there has been an increase in inquiry customers today, but market demand is still recovering. The actual transaction performance is relatively average, and there is a certain bargaining space for transactions.

Medium thick plate: On October 28th, the average price of 20mm ordinary plate in 24 major cities across the country was 3680 yuan/ton, an increase of 58 yuan/ton from the previous trading day. The black futures market saw a significant rise, with only a slight increase in mid board spot prices in the morning session, and decent trading in the afternoon. In most markets, mid board prices rose again. The market trading atmosphere has rebounded, with increased trading volume on the mid board and a positive attitude among traders, which has slightly increased the bullish sentiment for the future market.