Steel market price on February 18

Rebar: On February 18, the average price of 20mm grade 3 rebar in 25 major cities across the country was 4,478 yuan/ton, an increase of 120 yuan/ton from the previous trading day. Yesterday, black futures were significantly stronger, steel mills actively raised their ex-factory prices, and the prices of construction steel in various regions in the country rose sharply. From the perspective of transactions, due to the fact that there are not many steel traders officially working in the market, the market trading atmosphere is not strong, and most construction sites have not yet started, there are fewer terminal purchases, and the overall transaction is weak. In the short term, raw material costs continue to rise, steel mills have a strong willingness to raise prices, and the market has a strong price sentiment. It is expected that domestic construction steel prices will continue to rise in the short-term. At the same time, considering that downstream demand has not been fully released, actual transactions are limited, so It is also necessary to be alert to the possible callback risk of poor transactions of high-priced resources. 

Hot rolled coils: On February 18, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 4,661 yuan/ton, an increase of 145 yuan/ton from the previous trading day. Yesterday, the spot market’s early quotations rose sharply. After the rise, market transactions were generally normal. Today is the first working day after the year. However, some merchants and terminal enterprises have not fully resumed work. The overall market transaction atmosphere is relatively light and it is still in a festive atmosphere. At present, the market has a strong bullish mentality, and steel mills are more enthusiastic about raising prices. Although spot merchants have no transactions, their quotations will not be lowered. However, the current inventory will not be the peak after the holiday, and the peak is expected to appear in 2-3 weeks, so we still need to be alert to the risk of falling back caused by poor high transactions. 

Cold rolled coil: On February 18, the average price of 1.0mm cold coil in 24 major cities across the country was 5448 yuan/ton, an increase of 59 yuan/ton from the previous trading day. It is understood that most of the markets began to open for work yesterday, and steel prices are welcoming a good start. Judging from the market quotations in various regions, most market quotations have been raised sharply, but traders reported that the shipment situation is normal. According to downstream surveys, except for some companies that do not have a holiday for normal production during the Chinese New Year, most small and medium-sized terminal companies will resume work after the Lantern Festival, and current market demand will not be released quickly. On the whole, today's domestic cold-rolled prices are relatively strong.