Steel price on October 17, 2022

Construction steel: On October 17, the average price of 20mm Grade III anti-seismic deformed steel bars in 31 major cities nationwide was 4100 yuan/ton, down 37 yuan/ton from the previous trading day. Specifically, the price of domestic construction steel fell in the morning, with some falling sharply. In the morning, the merchants reported that the transaction was average, and the market remained low as the futures snails continued to fall, and some market high resources continued to loose. The transaction performance was poor throughout the day, and the trading atmosphere was cold. In the short term, on the one hand, due to the decline of raw material prices, the market mentality is depressed, which drives the decline of the futures market; On the other hand, the recent epidemic situation continues to repeat, which has a certain drag on the release of steel demand. In addition, during the important meeting, the production limit and construction stoppage of the Northern Steel Plant had a certain impact on both sides of steel supply and demand.

Hot rolled coils: On October 17, the average price of 4.75mm hot rolled coils in 24 major cities nationwide was 3961 yuan/ton, down 36 yuan/ton from the previous trading day. At present, there are no more favorable policies than expected, and the multiple distribution of the epidemic has restrained the recovery of steel demand to a certain extent. From the perspective of supply, with the increase of atmospheric control in autumn, winter and during the conference, the environmental protection and production restriction are expected to be strengthened again. At the same time, under the pattern of increasing macro uncertainties, cost support and deep discount on the price of finished products, it is not advisable to maintain the pessimistic view that finished products should not be overly pessimistic. The peak season of the Golden Ninth and Silver Tenth is expected to never give an outbreak to the demand side, but in the medium and long term, with the background of high supply and low demand, the price of finished products will be under pressure.

Cold rolled coil: On October 17, the average price of 1.0mm cold coil in 24 major cities nationwide was 4510 yuan/ton, down 14 yuan/ton from the previous trading day. Today, the volume of hot volume futures fluctuated weakly, and some markets adjusted their prices twice in the afternoon. It is understood that Beilun District, Ningbo, has implemented temporary global silent management since 13:00 on October 16. All construction sites in Beilun District have been shut down, and warehouse picking and logistics transportation are limited. At present, the epidemic situation in Beilun District, Ningbo City has a great impact on downstream terminals, storage and transportation, and the demand of end users has decreased significantly. In terms of mentality, futures continued to weaken, merchants were cautious, and downstream procurement had a strong mentality of buying up rather than buying down, which led to a relatively cold trading and investment atmosphere in the market.

Medium and heavy plate: On October 17, the average price of 20mm plain plate in 24 major cities nationwide was 4168 yuan/ton, down 16 yuan/ton from the previous trading day. The volatility of futures market is weak, and low price resources frequently appear in the spot market, making it difficult to conclude a deal. In terms of fundamentals, the output of medium plate has remained stable in the near future, the steel plant is on the edge of profit and loss, and the probability of increasing production is low. In terms of circulation, the price difference between the North and the South has been slightly repaired, but due to the weak market mentality, insufficient expectations for the future market and poor enthusiasm for ordering, the price in the North has been suppressed to a certain extent. In terms of inventory, there are not many resources in the main medium plate market, but due to the recent decline in transactions, the decline in social treasury is limited. On the demand side, with the end of centralized replenishment after the National Day, the enthusiasm of downstream procurement has decreased significantly in recent days.