Steel price in the market on September 18, 2024

Threaded steel: On September 18th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3359 yuan/ton, a decrease of 18 yuan/ton from the previous trading day. Although the current market inventory is at a medium low level, due to the impact of typhoons, terminal demand in the East China region will be affected to some extent in the next few days. Coupled with the suppression of futures declines, it cannot be ruled out that short-term prices may continue to decline.

Hot rolled coils: On September 18th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3162 yuan/ton, a decrease of 22 yuan/ton from the previous trading day. Due to the impact of the typhoon on multiple markets, logistics transportation has been hindered, market transactions have slowed down, and the overall trading scope is sluggish. The stacked market continues to decline, market sentiment has weakened, downstream order procurement has been delayed, and inventory pressure remains high.

Cold rolled coils: On September 18th, the average price of 1.0mm cold coils in 24 major cities across the country was 3706 yuan/ton, a decrease of 9 yuan/ton from the previous trading day. On the 18th, hot coil futures fell weakly. Terminal customers had already purchased some essential resources before the holiday, but their willingness to purchase after the holiday was not strong. As the settlement date of steel mills approached, the fluctuation of traders' quotations was relatively small, and there was a strong wait-and-see sentiment. In terms of mentality, end customers are cautious in their procurement plans and still prioritize essential needs. The overall market demand remains weak, and traders tend to be cautious in their mentality.

Medium thick plate: On September 18th, the average price of 20mm ordinary plate in 24 major cities across the country was 3262 yuan/ton, a decrease of 5 yuan/ton from the previous trading day. Black futures fluctuated and declined. In addition to the limited demand release after the Mid Autumn Festival, most markets had poor trading performance in the whole day, so the quotation fell slightly on the 18th, and there was still room for bargaining in some production areas. In terms of resources, with price adjustments, the current price difference between the north and south is narrowing, and in the short term, the amount of northern materials going south is limited; In addition, due to the transfer of molten iron from steel mills and their tendency to produce profitable varieties, the general material resources in some regions have recently decreased, the proportion of low-alloy has increased, and the price difference between general and low prices has narrowed.