Steel market price forecast on December 16

Rebar: On December 15, the average price of 20mm grade 3 rebar in 25 major cities across the country was 4,123 yuan/ton, a decrease of 5 yuan/ton from the previous transaction. In order to speed up the pace of shipments yesterday, spot traders mostly sold at low prices, but transactions performed poorly. In the afternoon, as futures rebounded, low prices in some areas rebounded, and transactions performed generally. At present, despite the sharp rebound in intraday futures, terminal purchase enthusiasm is still not good. Taking into account the recent large-scale cooling in most regions, demand resilience is slightly insufficient, and the current spot price is still a certain amount away from winter storage expectations. Therefore, domestic construction steel prices are expected to fluctuate within a narrow range in the short term.

Hot-rolled coil: On December 15, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4470 yuan/ton, down 10 yuan/ton from the previous trading day. Yesterday’s early morning spot market sentiment on the sidelines was strong, merchants’ quotations fell slightly, and market transactions were generally weak. The futures market rebounded in the afternoon, and the spot market mentality improved slightly. Some market prices rose slightly. Low-priced resources were traded well, but high-priced transactions were difficult. The short-term market fear is strong, and prices need to be adjusted after the price continues to rise. However, the current market inventory is still not accumulated, merchants have little pressure on shipments, and there is still a certain degree of resilience in terminal demand, so the room for price drops is also limited. . It is expected that today's hot-rolled coil prices will remain volatile.

Imported ore: On December 15, the imported iron ore market rose. Yesterday, Qingdao Port 61.5% Australian PB fines reported RMB 1,022/ton, up 8 RMB/ton from the previous trading day; 62.5% PB lump ore reported RMB 1,125/ton, up 16 RMB/ton from the previous trading day.

Coke: On December 15, the domestic coke market was on the strong side, and some steel mills have accepted the ninth round of coke price increases. On the supply side, the overcapacity reduction policy has been further promoted, coke supply is still tight, and coke companies have good sales; on the demand side, blast furnaces have started at a high level, and some steel mills have been affected by environmental protection and transportation factors. On the whole, Jiao Qi is more optimistic about the market outlook, and it is expected that the ninth round of promotion will be fully implemented.