Steel prices on September 25, 2023

Screw thread steel: On September 25th, the average price of 20mm Grade III seismic resistant screw thread steel in 31 major cities across the country was 3846 yuan/ton, a decrease of 17 yuan/ton compared to the previous trading day. In the short term, as the holiday approaches, businesses are not in a strong mood to stock up before the holiday, and their operations are more cautious. At the same time, the current market demand performance is unstable.

Hot rolled plate and coil: On September 25th, the average price of 4.75mm hot rolled plate and coil in 24 major cities across the country was 3938 yuan/ton, a decrease of 17 yuan/ton compared to the previous trading day. From a demand perspective, despite the overall weak willingness of downstream construction enterprises to replenish inventory, recent steel spot transactions have been average. Last Friday, the apparent consumption of large steel varieties increased by 245000 tons month on month, but the growth rate has significantly narrowed compared to the same period last year, and the spot sentiment is weak. From the perspective of supply, the enthusiasm of steel mills to actively reduce production is not high, and supply pressure is still ongoing.

Cold rolled coil: On September 25th, the average price of 1.0mm cold coil in 24 major cities across the country was 4726 yuan/ton, a decrease of 4 yuan/ton compared to the previous trading day. According to feedback from some traders, most downstream businesses have a mentality of "buying up rather than buying down". The willingness to purchase goods downstream is not strong, and most of them are based on demand. The overall transaction situation within the day is average. In terms of mentality, there has been no significant rebound in demand for replenishment before the holiday, and traders are still cautious in their outlook for the future market.

Medium thick plate: On September 25th, the average price of 20mm regular plate in 24 major cities across the country was 4010 yuan/ton, a decrease of 14 yuan/ton compared to the previous trading day. On the 25th, the futures market was drifting green, and the trading atmosphere in the market was far inferior to last Friday, resulting in weak trading. Affected by the downward trend of the futures market, demand performance has been weak, procurement mentality is cautious, and market demand has declined. Overall, demand fulfillment is light, traders have a strong bearish sentiment towards the future market, and market operations are mainly active in shipping.