Steel prices on October 30, 2023

Screw thread steel: On October 30th, the average price of 20mm Grade III seismic resistant screw thread steel in 31 major cities across the country was 3878 yuan/ton, an increase of 23 yuan/ton compared to the previous trading day. In the short term, market sentiment has improved recently due to macroeconomic policy incentives; At the same time, inventory has been continuously depleted in the near future, with stable demand performance and basic good prospects.

Hot rolled plate and coil: On October 30th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 3882 yuan/ton, an increase of 21 yuan/ton compared to the previous trading day. Overall, the supply and demand situation of steel has remained basically stable, as macro positive sentiment remains, and the upward trend of the hot coil market continues. Although the macro stimulus in the fourth quarter was strong, it did not focus on old economic drivers such as real estate and infrastructure, so the actual demand for steel may have a limited driving effect and remain basically on the emotional side. From the perspective of resource allocation, the overall pace of production reduction is slowing down, and the surrounding Beijing region is gradually implementing environmental protection and production restrictions. Even though steel mills continue to suffer losses, the pace of production reduction has slowed down as steel prices have stabilized and rebounded in recent days.

Cold rolled coil: On October 30th, the average price of 1.0mm cold coil in 24 major cities across the country was 4686 yuan/ton, an increase of 3 yuan/ton compared to the previous trading day. Macro positive sentiment remains, with black futures continuing their upward trend, and spot market prices in more than 30 days have remained stable. According to feedback from some traders, the frequency of picking up goods at the end of the weekend is low, and the willingness to replenish goods at the end is strong. On the 30th, the majority of picking up goods is based on replenishment procurement, and the overall transaction situation in the market is relatively good. In terms of mentality, traders believe that macroeconomic policies will still have a certain impact on the subsequent steel market, and are mostly optimistic about the future market.

Medium thick plate: On October 30th, the average price of 20mm regular plate in 24 major cities across the country was 3873 yuan/ton, an increase of 18 yuan/ton compared to the previous trading day. On the 30th, the black series continued to strengthen overall, with good market sentiment and a narrow range of price increases on the medium board. Especially in the East China region, the price rise of the medium board is relatively strong, becoming the main driving force for the national average price. According to traders' feedback, on the 30th, the market's general board transactions improved, while low alloy transactions were average without significant volume increase. The combined futures trend continued to maintain an upward trend, and macroeconomic favorable policies were frequent, boosting market confidence. However, even so, some regional merchants remained cautious.