Steel price on April 18, 2023

Building steel: On April 18th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 4091 yuan/ton, an increase of 12 yuan/ton compared to the previous trading day. Specifically, the early trading period saw a surge in snail prices, while the overall spot prices of domestic construction steel rose in the morning. From the transaction situation, the market shipment performance in the morning was decent, and normal procurement was just needed. The high level of intraday futures fell, and spot transaction prices in some regions fell secretly, resulting in lower transactions than in the early trading.

Hot rolled plate and coil: On April 18th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 4267 yuan/ton, an increase of 17 yuan/ton compared to the previous trading day. Black commodity futures operated at a high level and fluctuated. The quotation in the spot market generally rose in the morning, but the transaction was normal after the rise. In the afternoon, there was a slight decline in the price of the spot market, and the transaction in the market weakened. Overall, the GDP data released today exceeded expectations, but the market reaction was not strong. Even in the afternoon, there was a trend of weakening transactions and price loosening. Currently, both supply and demand in the market are weak, and transactions have weakened after a slight increase, resulting in significant upward pressure on prices.

Cold rolled sheet coil: On April 18th, the average price of 1.0mm cold coil in 24 major cities across the country was 4739 yuan/ton, an increase of 4 yuan/ton compared to the previous trading day. Today, the black series futures market fluctuated and rose, which to some extent boosted market confidence. Spot prices remained stable and strong, with most merchants' prices being mainly stable. Downstream customers mostly purchased according to their needs, and the transaction situation was relatively good.

Medium thick plate: On April 18th, the average price of 20mm regular plate in 24 major cities across the country was 4508 yuan/ton, an increase of 7 yuan/ton compared to the previous trading day. On the same day, the black series futures market fluctuated and rose, resulting in low trading sentiment and overall poor trading performance. According to market feedback, there is some room to maintain profits for steel mills in the context of flat control of crude steel production throughout the year. Recently, downstream demand has basically peaked and entered a stable period. Currently, ordering costs are relatively high, and downstream terminals mainly rely on low prices to replenish inventory as needed. Procurement enthusiasm is not high, and the market is mainly focused on reducing inventory, shipping, and recovering funds. We are cautious about watching the future market.