Steel price on October 10, 2022

Construction steel: On October 10, the average price of 20mm three-level anti-seismic deformed steel bars in 31 major cities nationwide was 4201 yuan/ton, up 6 yuan/ton from the previous trading day. Specifically, the price of domestic construction steel rose partially in the morning after a sharp rise in early trading. In terms of transactions, there were some speculative orders at the opening of the morning, which continued to rise slightly. After the rise, the enthusiasm for terminal procurement was not high, and the overall demand was weak. Speculative demand was released sporadically. In the short term, although the spot price has risen slightly in recent days, the market lacks confidence in whether the price can continue to rise after the National Day. Although the domestic fundamentals have not changed much, the slow decline of supply and the partial recovery of consumption have formed a pattern of weak balance between supply and demand, but the outbreak of epidemics in many places has led businesses to start worrying about the market after the National Day. Therefore, it is expected that the price of domestic construction steel market will continue to fluctuate in a narrow range on the 11th.

Hot rolled coils: On October 10, the average price of 4.75mm hot rolled coils in 24 major cities nationwide was 4077 yuan/ton, up 3 yuan/ton from the previous trading day. The spot market was mainly wait-and-see in the morning today, and some markets fell slightly in the afternoon. The overall transaction was biased, and the transaction was significantly weaker than the previous two days. On the whole, the price of hot rolled coils rose after the festival, the downstream demand for replenishment was fair, the speculative demand was average, and the overall demand was released, but the release was less than expected. It is expected that in the short term, the price of hot rolled coils across the country will be weak and volatile.

Cold rolled coil: On October 10, the average price of 1.0mm cold coil in 24 major cities nationwide was 4560 yuan/ton, up 2 yuan/ton from the previous trading day. The futures market is red, but today is the third working day after the festival. Those who need to replenish stocks in the downstream have basically completed replenishment in the previous two days, and the transaction today is light. In terms of mentality, some markets have a large number of goods arrived after the festival, and the enthusiasm of end users for taking goods has declined today. Some traders believe that there is limited room for price recovery, and they are in a strong wait-and-see mood.

Medium and heavy plate: On October 10, the average price of 20mm plain plate in 24 major cities nationwide was 4226 yuan/ton, up 3 yuan/ton from the previous trading day. Although the futures market rose somewhat, it was not as expected as a whole. The mentality of the spot market was affected to some extent, and the price was blocked from rising again, and the transaction today declined. Fundamentally, after the National Day holiday, there is no overhaul of medium and heavy plate steel plants, and there is no production reduction plan in the short term. In combination with the current spot price of medium and heavy plates and the fluctuation of raw materials, there is no obvious expansion opportunity for the profits of steel plants in the middle and late ten days, and the output of medium and heavy plates may maintain the current level. In terms of circulation, the adjustment of resource flow will lead to the repair of the price difference between the North and the South in October, which is also the main reason for the relatively sufficient rise in East China and the weak price in South China after the festival.