Steel price in the market on September 9, 2024

Threaded steel: On September 9th, the average price of threaded steel in major cities across the country was 3235 yuan/ton, a decrease of 4 yuan/ton from the previous trading day. Specifically, in the morning session, the futures market was running at a low level, and domestic spot prices continued to decline over the weekend. In the short term, with the rapid resumption of production by steel mills and a slower than expected recovery in demand, the supply-demand imbalance still exists.

Hot rolled coils: On September 9th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3074 yuan/ton, a decrease of 9 yuan/ton from the previous trading day. The market supply and demand are both weak, and steel futures prices continued to decline in early trading. However, with the support of raw material prices in the afternoon, the market prices have rebounded slightly. But currently, the manufacturing industry's prosperity index is relatively average, and the overall atmosphere still presents a pessimistic sentiment. The demand side is still in a weak state.

Cold rolled coil: On September 9th, the spot price of cold-rolled coil in China was weak, with a national average price of 3679 yuan/ton, a decrease of 21 yuan/ton from the previous trading day. The spot prices of cold-rolled coils in most markets continue to decline, and the trading atmosphere in the market is generally average. Downstream transactions are mainly wait-and-see, and transactions have not improved due to price reductions. In terms of mentality, there has been no significant improvement in market demand, and the mentality of merchants is still cautious. Currently, they are mainly focused on actively shipping and withdrawing funds from inventory.

Medium thick plate: On September 9th, the average price of 20mm ordinary plate in 24 major cities across the country was 3194 yuan/ton, a decrease of 16 yuan/ton from the previous trading day. In the morning, black futures remained weak, with some cities experiencing a slight decline in mid board spot prices. After a red rebound in the market, traders still dare not raise prices rashly, fearing that another drop in prices the next day will affect their mentality, and are cautious about bidding based on tomorrow's market situation; It is understood that there has been some release of terminal procurement, and downstream small-scale stockpiling has started rhythmically before the holiday, with overall transactions still acceptable.