Steel spot market on October 25

Construction steel: On October 25, the average price of 20mm three-level seismic rebar in 31 major cities across the country was 5535 yuan/ton, down 51 yuan/ton from the previous trading day. As the snails fell in the afternoon, the demand for purchases deteriorated significantly, the speculative demand was weak, and the overall transaction performance was mediocre. In the short term, due to limited production, the recent supply will still remain at a low level; in terms of demand, due to the gradual cooling of the weather in the northern region, terminal construction is limited. Coupled with the recent price drop, the downstream wait-and-see sentiment is strong. On the whole, short-term supply and demand will maintain a dual-weak pattern, and domestic construction steel prices are expected to fluctuate widely on the 26th.

Hot-rolled coils: On October 25, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5674 yuan/ton, down 17 yuan/ton from the previous trading day. The spot market had a strong early morning mentality and good deals. As the market continued to decline in the afternoon, spot quotations in most markets began to decline, with very few transactions, and the performance of terminal demand remained poor. Today, the overall volume of hot rolls across the country increased from last Friday. 23.14%, transactions were basically concentrated in the morning. At present, the market is still in a situation of weak supply and demand, and demand has not recovered significantly. Downstream steel companies still focus on just-needed purchases, with low purchasing enthusiasm, relatively weak speculative demand, and overall transaction performance. Faced with several consecutive days of falling prices, traders have a strong bearish sentiment. Although the cost of ordering is high, they will also cut prices for shipments to avoid risks. Overall, short-term hot-rolled coil prices may fluctuate weakly.

Cold rolled coil: On October 25, the average price of 1.0mm cold coil in 24 major cities across the country was 6,437 yuan/ton, down 16 yuan/ton from the previous trading day. According to traders’ feedback, today’s cold-rolled market continues to be pessimistic in the early stage, and some areas have made up for the decline. A few areas still fluctuate within a narrow range or even stabilize. The overall transaction is still weak. At the end of the month, merchants will soon receive new orders and cash in The mood is getting stronger, and the shipments are mostly dark. In the downstream, the sentiment of buying up and not buying down is strong, coupled with local power restrictions, equipment has not been fully started, raw materials are mostly purchased on demand, and capital pressure is greater. It is expected that on the 26th, domestic cold-rolled spot prices will fall within a narrow range.

Plate: On October 25th, the average price of 20mm common plate in 24 major cities across the country was 5,810 yuan/ton, down by 14 yuan/ton from the previous trading day. Affected by the poor apparent demand, the market is mainly going to the warehouse to avoid risks in the near future. In terms of the base price of steel mills, the base price of lock orders has been lowered by 10~50 yuan/ton. The market is bearish and has strong selling psychology. Affected by the high cost of early arrivals, it is expected that short-term price fluctuations will slow down and the possibility of a sharp drop is unlikely.