Steel price in the market on September 24, 2024

Threaded steel: On September 24th, the average price of threaded steel in major cities across the country was 3402 yuan/ton, an increase of 41 yuan/ton from the previous trading day. Specifically, futures snails have fluctuated and risen, domestic spot prices have stopped falling and stabilized, some cities have slightly increased, and market transactions have increased. In the short term during trading, the switch between new and old standard resources has led to varying degrees of shortage of specifications in the market.

Hot rolled coils: On September 24th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3209 yuan/ton, an increase of 58 yuan/ton from the previous trading day. Black commodity futures are operating strongly, with the spot market following suit and significant recovery in market transactions. Overall, in recent times, there have been frequent market stimulus policies, which have boosted the sentiment of merchants. The willingness of merchants to buy at the bottom has reappeared, and transactions have warmed up to a certain extent. Overseas buyers' attention has gradually increased, and there is a strong driving force for price increases.

Cold rolled coil: On September 24th, the spot price of cold-rolled coil in China increased slightly, with a national average price of 3715 yuan/ton, an increase of 10 yuan/ton from the previous trading day. Hot coil futures have surged significantly, and both hot-rolled and cold-rolled coils in the spot market have quickly followed suit. The market sentiment has improved, and there is a strong trading atmosphere within the day. Although the transaction is good, downstream procurement is still mainly based on essential needs, and the subsequent demand may not be sustainable, so there is still some pressure for the average price to rise.

Medium thick plate: On September 24th, the average price of 20mm ordinary plate in 24 major cities across the country was 3287 yuan/ton, an increase of 25 yuan/ton from the previous trading day. Macro favorable policies are coming one after another, causing a significant increase in the black series futures market and a slight rise in spot prices. The trading atmosphere in the market has improved, and low-priced resources are still available for trading, but trading has slowed down after the rise. From a fundamental perspective, the production of medium board continues to fluctuate weakly, the market resource arrival situation is average, and some regions are experiencing a shortage of individual standard board specifications, resulting in significant price increases.