Steel price on July 3, 2023

Building steel: On July 3rd, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3848 yuan/ton, a decrease of 7 yuan/ton compared to the previous trading day. Specifically, in the early trading period, the price of domestic construction steel weakened slightly due to weak fluctuations. From the perspective of transactions, there were frequent market level control policies in the afternoon, with futures prices rebounding from low levels, and spot prices in some cities rebounding slightly. From the perspective of transaction performance, the performance of rigid demand and speculative demand is average, and the overall transaction is better than the previous trading day. At present, the short-term market is still in a pattern of strong supply and weak demand, and the rebound in spot prices is mainly driven by sentiment.

Hot rolled plate and coil: On July 3rd, the average price of 4.75mm hot rolled plate and coil in 24 major cities across the country was 3911 yuan/ton, a decrease of 4 yuan/ton compared to the previous trading day. The market atmosphere is driving the rebound of black chain volatility, but the upward driving force is still limited. The support for inventory reduction in the early off-season has weakened, and the characteristics of demand in the off-season have become apparent, affecting market confidence. The demand for steel has been released in stages, and steel production has rebounded. Both supply and demand sides have improved, and the contradiction between the demand side of finished products is not significant.

Cold rolled sheet coil: On July 3rd, the average price of 1.0mm cold coil in 24 major cities across the country was 4509 yuan/ton, which was unchanged from the previous trading day. Specifically, in the afternoon, black series futures saw a slight increase, with insufficient momentum for spot prices to keep up. The trading atmosphere in the market has improved to some extent, but end users mainly purchase on demand. According to feedback from traders, steel mills are currently mainly accepting orders for variety steel, and the overall market resources for general materials are tight. Therefore, the short-term price performance of general materials is relatively strong. In the off-season reality, it is difficult for market demand to increase. As the production capacity of steel mills continues to maintain, factory and social warehouses are expected to continue to increase.

Medium thick plate: On July 3rd, the average price of 20mm regular plate in 24 major cities across the country was 4126 yuan/ton, a decrease of 4 yuan/ton compared to the previous trading day. In the early trading session, the market was weak and some market prices slightly declined. With the news of Tangshan's production restriction fermenting in the afternoon, the market rose and spot transactions slightly increased, but prices did not rise. In terms of supply, the overall production schedule of the steel plant remains normal. In terms of circulation, the recent changes in inventory have not been significant, and the accumulation of inventory is lower than expected. The high output did not cause too much pressure on the domestic Spot market, and the continued growth of exports offset the decline in demand in the off-season. In terms of demand, the speculative demand in the market is driven by the rise in spot prices and the expected increase, but the actual downstream procurement volume remains relatively stable.