Steel spot market on October 18

Construction steel: On October 18, the average price of 20mm three-level seismic rebar in 31 major cities across the country was 5,824 yuan/ton, down 57 yuan/ton from the previous trading day. Recently, market traders have cashed out more. Under the situation of some resumption of production in Jiangsu and other places and relatively weak terminal demand, bearish sentiment has enveloped the market. In the short term, the supply side will remain low, demand has not yet significantly increased, and the market is still showing a weak rise and a supportive decline. In the short term, domestic construction steel prices may fluctuate and weaken.

Hot-rolled coils: On October 18, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5837 yuan/ton, down 24 yuan/ton from the previous trading day. The early quotations of the spot market fell sharply, and the market transactions were better after the drop. With the sharp increase in the market, the spot prices began to rebound significantly in the afternoon. It is inverted with the market price, so the spot price is now clearly supported at the low level, and the disk has fallen more, but the spot follow is not strong, and the terminal still maintains just-needed purchases. Although the impact of power restrictions is slightly alleviated, it still suppresses manufacturing demand, so In the short term, both supply and demand will remain weak, and prices will also show support under pressure. On the whole, it is expected that the price of hot-rolled coils on the 19th will maintain range fluctuations.

Cold rolled coil: On October 18, the average price of 1.0mm cold coil in 24 major cities across the country was 6,514 yuan/ton, down 10 yuan/ton from the previous trading day. It is reported that settlements in some areas in the middle of the month are relatively reasonable, and traders still have certain profits. Merchants mostly ship products. Looking at the spread between the north and the south, the price difference between the north and the south has gradually expanded recently, and the reduction in the northern region is significantly greater than that in the south. On the downstream side, the recent downstream orders are general, the equipment has not been fully started, the raw materials are mostly purchased on demand, and the pressure on funds still exists. It is expected that on the 19th, domestic cold-rolled spot prices will be lowered in a narrow range.

Plate: On October 18th, the average price of 20mm common plates in 24 major cities across the country was 5880 yuan/ton, which was 14 yuan/ton lower than the price of the previous trading day. Today, the market is full of wait-and-see sentiment, and the downstream is cautious in taking the goods. The market price consolidates and weakens throughout the day, and the transaction performance is relatively average. In terms of resources, due to the reduction of steel mills’ overhauls and the recent shortage of goods in the market, there is currently a shortage of specifications in some areas, and the subsequent arrivals will still shrink, so merchants are cautious in shipping. On the whole, it is expected that the price of plate on the 19th will continue to consolidate in a narrow range.