Steel price on March 27, 2023

Construction steel: On March 27th, the average price of 20mm Grade III seismic deformed steel bars in 31 major cities nationwide was 4261 yuan/ton, down 4 yuan/ton from the previous trading day. In the short term, on the one hand, the recent overseas financial risks have temporarily come to an end, and the macro mentality is expected to be restored; On the other hand, the price of raw materials may have stabilized recently, increasing cost support for steel prices.

Hot rolled plate and coil: On March 27th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 4382 yuan/ton, an increase of 1 yuan/ton compared to the previous trading day. Speculative demand in the market has decreased, and the steel market needs to weaken last week, but it is still in the traditional peak demand season. The overall sentiment is cautious, and steel futures prices remain stable and volatile. From the perspective of seasonal regularity, there is still an increase in demand in North China, Northeast China, and Northwest China. After rumors of early production cuts, the overall supply increment space is relatively limited. From the perspective of demand, the overall output of steel is relatively high, and in the peak demand season, there is still room for future demand to rise.

Cold rolled sheet and coil: On March 27th, the average price of 1.0mm cold rolled coil in 24 major cities nationwide was 4841 yuan/ton, an increase of 5 yuan/ton compared to the previous trading day. According to market feedback from various regions on the 27th, market demand is significantly lower than in the first ten days of March. The demand for automotive steel has decreased significantly, and the rest of the downstream demand is also weakening. At the same time, traders are relatively pessimistic in their recent psychology.

Medium and heavy plate: On March 27, the average price of 20mm regular plate in 24 major cities nationwide was 4567 yuan/ton, down 1 yuan/ton from the previous trading day. Judging from the market situation, spot prices have been affected by the continuous decline last week, and a stabilizing mentality is relatively common. In terms of circulation, as spot prices decline, the psychology of buying up rather than falling leads to a decline in speculative demand. In the traditional peak consumption season, the current terminal demand is not too bad, but current spot traders are eager to cash in on profits in the face of price adjustment, leading to a continuous decline in spot prices. In terms of demand, the market is expected to enter a pressure stage in March, with infrastructure demand maintaining resilience and a significant demand for construction end acceleration.