Steel spot market on June 28

Construction steel: On June 28, the average price of 20mm three-level seismic rebar in 31 major cities across the country was 4947 yuan/ton, down 19 yuan/ton from the previous trading day. From the perspective of transactions, the current demand trend in the off-season has not changed, and the overall performance of the spot market transactions is average. With the rebound of futures in the afternoon, the performance of low transactions is acceptable, and speculative demand has increased slightly. In the short term, on the one hand, the current market capital is tight, the market mentality is relatively weak, and the price increase lacks driving force. Fortunately, the current price of raw materials remains high, some resources are close to the cost line, and there is support for short-term prices.

Hot-rolled coils: On June 28, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5380 yuan/ton, down 3 yuan/ton from the previous trading day. With the fluctuations in the market, the spot price has also fluctuated. However, the transactions were relatively weak throughout the day, and the market trading atmosphere was weak. The overall demand is still in the off-season, and the market inventory has also clearly accumulated. However, the north has a short term in the near future. Production news has played a supporting role in the market. Prices are still in strong fluctuations, but we still need to be vigilant. After July, when the production limit in the north resumes, it will return to the fundamentals, so high supply, inventory accumulation, and off-season demand performance. It may have brought about the weakening of price shocks, and it may reach near the cost line of steel mills.

Cold rolled coil: On June 28, the average price of 1.0mm cold coil in 24 major cities across the country was 6,132 yuan/ton, down 1 yuan/ton from the previous trading day. Affected by today's black futures, the price of cold rolling in some areas showed signs of compensating for the increase in the afternoon. According to feedback from cold-rolling merchants, the actual transaction today is still not satisfactory. Affected by the recent settlement costs of steel mills, cold-rolling still has some support, and merchants in many places are mainly operating at higher prices. From the downstream point of view, more on-demand purchases are the main focus, short-term sentiment still exists, and a small amount of replenishment on dips. It is expected that on the 29th, domestic cold-rolled spot prices will fluctuate mainly within a narrow range.

Plate: On June 28, the average price of 20mm common plates in 24 major cities across the country was 5349 yuan/ton, down 11 yuan/ton from the previous trading day. Affected by the downward price adjustment of the raw material end market and the weak market outlook, the overall futures market is weak, and the market sentiment is poor. Today's transactions on the medium boards across the country are poor, and agents have expressed that prices are following demand. In terms of steel mills, the lock unit prices of YBS and JG steel mills have been lowered by about 150 yuan/ton, and the unit prices of most other steel mills have not yet been adjusted. The overall market orders are poor, and supply and demand are weak. There is still room for overall decline in July. On the whole, the price of plate is expected to fluctuate and weaken on the 29th.