Steel price on September 11, 2023

Building steel: On September 11th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3800 yuan/ton, an increase of 1 yuan/ton compared to the previous trading day. Specifically, in the early trading period, the snail prices rebounded from a low level, and in the morning, domestic construction steel prices partially loosened, while some remained stable. From the perspective of transactions, with the release of social finance and other data in the afternoon, the futures snail bucked the trend and turned red, with some cities experiencing tentative increases in spot prices and a decrease in low-priced resources. Merchants have reported average overall market demand performance. In the short term, the overall performance of market demand is currently poor, showing a pattern of sluggish peak season.

Hot rolled plate and coil: On September 11th, the average price of 4.75mm hot rolled plate and coil in 24 major cities across the country was 3963 yuan/ton, an increase of 9 yuan/ton compared to the previous trading day. Overall, policies related to real estate in various regions have gradually been implemented, but the market still has doubts about the post demand consumer market, and overall spot transactions are average. From a supply perspective, even though steel mills continue to suffer losses, their enthusiasm for actively reducing production is not high, and the market also has doubts about the strength of the production reduction policy. At present, the demand for spot steel is sluggish, which to some extent suppresses the market. At present, it is in the early stages of the traditional consumption peak season, and actual demand has not shown a significant improvement, and there is also a lot of uncertainty in supply.

Cold rolled sheet and coil: On September 11th, the national average spot price of cold rolled sheet and coil was 4693 yuan/ton, a decrease of 2 yuan/ton compared to the previous trading day. Specifically, the black futures market is fluctuating and rising, with stable spot market quotes being the main focus. Today's market transactions are still acceptable. According to feedback from some traders, there are relatively few common material resources in the market, and there is not much inventory pressure, with many willing to raise prices. In terms of transaction, the futures trend has increased, and the number of downstream inquiries has increased. The overall transaction situation is good. In terms of mentality, although it is in the traditional peak season of September, downstream demand is still average, and traders still hold a cautious wait-and-see attitude towards the future market.

Medium thick plate: On September 11th, the average price of 20mm regular plate in 24 major cities across the country was 4048 yuan/ton, a decrease of 5 yuan/ton compared to the previous trading day. The volatility of the market is becoming stronger, and the market mentality is improving but more cautious. The downstream demand in East China and Southwest China has increased compared with last Friday. However, due to the impact of rainstorm weather in parts of South China and North China, the transaction is still not smooth. Therefore, the price of plate in some markets has slightly declined. As a whole, the transaction volume is not significantly excessive. In terms of resources, across the country, inventory levels have slightly decreased, with only a slight increase in inventory in the northwest market. In addition, although the price difference between the north and south has been repaired, merchants' willingness to actively stock up is not strong, and in the short term, the amount of North Material sold to the south is limited.