Steel prices on May 31

On May 31st, the domestic steel market prices soared across the board; Tangshan steel billet manufacturers cautiously reported stable operation, and the ex-factory price including tax was 5,000 yuan/ton. Driven by the sharp rise in billet prices last weekend, merchants' quotations rose sharply in early trading today, but downstream procurement is still cautious, and procurement is basically on-demand.

Construction Steel: On May 31, the average price of 20mm Class III seismic rebar in 31 major cities across the country was 5257 yuan/ton, an increase of 174 yuan/ton from the previous trading day. The snails fluctuated higher, and the price of construction steel in most areas in the country rose significantly in the morning. From the perspective of transaction, due to the large increase in the weekend market, the early market mainly supplemented the increase. In the afternoon, as the transaction in some areas was not smooth, high-level resources appeared to loosen slightly.

Hot-rolled coil: On May 31, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 5635 yuan/ton, an increase of 162 yuan/ton from the previous trading day. Today’s black commodity futures fluctuated at a high level, and the spot market’s quotations rose sharply in the morning. After the increase, the market’s high transactions were average, and the low transactions were fair. The futures market fluctuated downward in the afternoon, and some market prices fell slightly. At present, the fundamentals are generally good, and transactions have improved after the price rebound. However, downstream procurement is still cautious, and procurement is basically on-demand.

Cold rolled coil: On May 31, the average price of 1.0mm cold coil in 24 major cities across the country was 6,338 yuan/ton, an increase of 116 yuan/ton from the previous trading day. In recent days, the continued strength of futures and the relatively high stimulus of steel mills' settlement recently have prompted merchants in many places to increase prices. Although today's price has increased a lot, mainly due to the cumulative increase in the weekend market, the transaction is not satisfactory. The prices in some areas have been loosened, and the downstream mainly purchases on demand.

Plate: On May 31, the average price of 20mm general-purpose plates in 24 major cities across the country was 5,691 yuan/ton, an increase of 173 yuan/ton from the previous trading day. From the perspective of supply, a new steel plant in East China has recently been overhauled, but the overall impact is not significant. The output of the medium plate is still at a high and fluctuating level. In terms of circulation, due to the rapid price drop in the early stage, market transactions were difficult, the trading atmosphere was poor, and speculative demand was greatly weakened. Although the spot market has rebounded recently, the market still appears to be more cautious. In terms of demand, the downstream has begun to resume its normal procurement rhythm. As long as the spot price does not rise or fall sharply, the demand performance of the mid-board will not be bad.