Steel prices in the market on January 6, 2024

Threaded steel: On January 6th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3460 yuan/ton, a decrease of 13 yuan/ton from the previous trading day. At present, the winter storage sentiment in the market is average, and as the Spring Festival holiday approaches, the purchasing enthusiasm of traders is weak, coupled with the recent decline in prices of raw materials such as coke.

Hot rolled coils: On January 6th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3460 yuan/ton, a decrease of 18 yuan/ton from the previous trading day. The market supply and demand tend to be weak, and the digestion speed of hot coil spot goods has slowed down, while fundamental pressure remains. From a supply perspective, as the end of the year approaches, some steel mills have reduced production due to environmental factors and entered the year-end maintenance phase, resulting in a decrease in iron production. In terms of demand, during the off-season, the heat of winter storage has significantly weakened.

Cold rolled coils: On January 6th, the average price of 1.0mm cold coils in 24 major cities across the country was 4221 yuan/ton, a decrease of 6 yuan/ton from the previous trading day. According to feedback from traders in East China, the overall inventory pressure in the current market is not high, and the futures market continues to weaken. The trading atmosphere in the market has weakened, and downstream customers are mainly purchasing on demand. Traders are cautious about the future market situation, and there were few inquiries and prices on the 6th. The market transaction situation is not good, and currently, the main focus is on selling and withdrawing funds, with transactions mostly concentrated in low-priced resources.

Medium thick plate: On January 6th, the average price of 20mm ordinary plate in 24 major cities across the country was 3547 yuan/ton, a decrease of 13 yuan/ton from the previous trading day. Recently, the demand in the north has been poor, and the price of medium and thick plates is relatively low. Tangshan ordinary plates were priced at 3360 yuan/ton on the 6th, with a price difference of nearly 200 yuan/ton compared to East China. Therefore, some East China traders went north to pick up goods, and Tangshan ports were relatively busy. The trend of "northern materials going south" has been evident in the medium and thick plate market. In terms of transactions, the market trading atmosphere on the 6th was generally biased, and traders were more concerned about the situation of a large amount of goods arriving before the Spring Festival.