Steel spot market on July 12

Construction Steel: On July 12, the average price of 20mm Class III seismic rebar in 31 major cities across the country was 5248 yuan/ton, an increase of 156 yuan/ton from the previous trading day. Last Friday's night trading futures opened higher and moved higher. Today's morning trading remained high and fluctuated. In the morning, the price of construction steel in most areas rose sharply. In the afternoon, due to the high correction of futures, the spot market did not continue its upward trend over the weekend, and transactions performed generally. It is expected that on the 13th, the price increase of domestic construction steel market will slow down.

Hot-rolled coils: On July 12, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5,744 yuan/ton, an increase of 131 yuan/ton from the previous trading day. Today’s black commodity futures market was weak and volatile. Affected by Friday night and weekend market fluctuations, early-market merchants’ quotations rose sharply. However, after the rise, market transactions were weak, and the market’s quotations declined in the afternoon. Look, the market is currently under pressure to reduce production capacity and other production restrictions, as well as news of macro RRR cuts. There is a significant increase in the disk and the market, but market demand is still weak, and the short-term is still in the game between expectations and reality.

Cold rolled coil: On July 12, the average price of 1.0mm cold coil in 24 major cities across the country was 6,395 yuan/ton, an increase of 135 yuan/ton from the previous trading day. The black futures fluctuated at a high level, and the steel market today rose broadly. According to the feedback from cold-rolled merchants, the actual transaction volume today is slightly higher, but the transaction is still not very satisfactory. Merchants in many places mainly operate at higher prices. From the downstream point of view, more on-demand procurement is the main focus, and bearish sentiment still exists. It is expected that on the 13th, domestic cold-rolled spot prices will still have room for upward adjustment in some areas.

Plate: On July 12, the average price of 20mm plain plates in 24 major cities across the country was 5586 yuan/ton, an increase of 124 yuan/ton from the previous trading day. On the supply level, the recent occurrence of concentrated short-term overhauls and resumption of production in steel mills has led to significant fluctuations in operating rates. In the short term, production may recover as the overhaul ends. However, under the expected background of production restrictions, the future production of medium plates will be Shows a downward trend. In terms of circulation, this round of production restriction expectations has greatly boosted market confidence. Although demand is still in the off-season, speculative demand has begun to act, and market transactions have improved significantly. In terms of demand, the downstream demand of mid-board is currently in the off-season, but driven by strong expectations, prices have begun to rise rapidly, making the downstream have been forced to start to accelerate procurement. It is comprehensively predicted that the price of medium and heavy plate will be strong in the short term.