Steel price on April 11, 2023

Building steel: On April 10th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 4153 yuan/ton, a decrease of 33 yuan/ton compared to the previous trading day. Specifically, in the early trading period, the high level of snail prices fell, and in the morning, the spot prices of domestic construction steel remained stable with some easing. From the perspective of transaction situation, driven by the decline of futures snail prices, spot prices have generally declined, merchants have a low mentality, and the market trading atmosphere is cold, with low demand for just and speculative demand. In the short term, with the implementation of the second round of coke reduction, negative feedback on raw materials continues. On the one hand, there have been continuous news of production restrictions recently, and there is still downward pressure on raw materials; On the other hand, recent supply has remained high, while the demand side has shown unstable performance, putting some pressure on spot goods.

Hot rolled plate and coil: On April 10th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 4285 yuan/ton, a decrease of 31 yuan/ton compared to the previous trading day. The price decline of black futures continues to expand, and the overall market performance further weakens. Upstream iron ore prices are still being suppressed, and due to the weakening demand for iron ore due to production pressure, there are still expectations for coke to rise or fall, and the overall market performance is relatively weak. At present, demand is still lower than expected, and the overall downstream order situation is still in a lukewarm state, unable to support the current finished product prices. It is expected to continue to show a weakening trend in the short term.

Cold rolled sheet coil: On April 10th, the average price of 1.0mm cold coil in 24 major cities across the country was 4786 yuan/ton, a decrease of 5 yuan/ton compared to the previous trading day. The price of black series futures has fallen, causing strong pessimism among merchants and poor market transactions; In terms of demand, terminal demand remains tepid, and some key consumer markets may not even have as good demand as in March.

Medium thick plate: On April 10th, the average price of 20mm regular plate in 24 major cities across the country was 4530 yuan/ton, a decrease of 11 yuan/ton compared to the previous trading day. The futures market plunged, with light trading performance throughout the day and a narrow decline in spot prices. In terms of supply, the high prices of raw materials have reduced the profits of steel companies. Currently, the utilization rate of medium and thick plate production capacity has reached a high point within the year and has reached a peak in stages, with limited space for later release. In terms of circulation, production remains high and inventory continues to be depleted.