Steel spot market on September 22

Construction steel: On September 22, the average price of 20mm three-level seismic rebar in 31 major cities across the country was 5754 yuan/ton, an increase of 86 yuan/ton from the previous trading day. On the first day after the holiday, the snail futures opened strongly and some leading steel mills actively raised their ex-factory prices during the weekend, the spot market in various regions strengthened significantly in the morning. From the perspective of transactions, with the rapid increase of futures snails in the afternoon, the market transaction volume has increased significantly, the terminal purchasing enthusiasm has increased, and the increase in some regions has expanded. In the short term, firstly, the recent news of production and electricity curtailment in various regions has been frequently issued, and the supply side is expected to reduce the amount; secondly, as the price continues to rise, the business mentality is more optimistic, and the consumer side is also improving.

Hot-rolled coils: On September 22, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5,809 yuan/ton, an increase of 10 yuan/ton from the previous trading day. The willingness of downstream replenishment after the holiday is enhanced, procurement continues to increase, market demand is average, and the overall transaction performance is acceptable. At present, news of production restriction and dual control of energy consumption in Jiangsu and other places continues to ferment. Merchants have tentatively raised their quotations considering that the supply pressure will be less in the future and market confidence will gradually increase. It is necessary to pay attention to the impact of power rationing on the demand side, and be cautious about the infinite increase.

Cold rolled coil: On September 22, the average price of 1.0mm cold coil in 24 major cities across the country was 6,501 yuan/ton, an increase of 2 yuan/ton from the previous trading day. The main reason for the rise in Fuzhou Cold Rolling was the recent decrease in market resources and the slight improvement in the shipments of traders during the Mid-Autumn Festival holiday. According to feedback from traders in South China, after the holiday, end customers are mainly cautious and wait-and-see, market demand has not improved significantly, and merchants give priority to small profits.

Plate: On September 22, the average price of 20mm common plates in 24 major cities across the country was 5,753 yuan/ton, an increase of 9 yuan/ton from the previous trading day. The recent market demand is still tepid, and the overall transaction situation is average. Therefore, traders' quotations are mostly within a narrow range and the short-term upward momentum is insufficient. In terms of steel mills, as the price difference between varieties continues to narrow, the willingness to produce full-load production of some varieties is not strong in the later stage. On the whole, the current market supply and demand situation is relatively stable.