Steel market price on October 25, 2022

Construction steel: On October 24, the average price of 20mm Grade III anti-seismic deformed steel bars in 31 major cities nationwide was 4033 yuan/ton, down 4 yuan/ton from the previous trading day. In the short term, the current cost still has some support for the steel price, but the demand lacks the power to release continuously, and the merchants are pessimistic about the later market as a whole.

Hot rolled coils: On October 24, the average price of 4.75mm hot rolled coils in 24 major cities nationwide was 3920 yuan/ton, up 2 yuan/ton from the previous trading day. At present, the market continues to focus on stock reduction. Due to the recent epidemic and other uncertain factors, some markets are in a situation of weak supply and demand. The demand for replenishment and speculative demand are not as expected, and businesses have weak confidence in price increases.

Cold rolled coil: On October 24, the average price of 1.0mm cold coil in 24 major cities nationwide was 4480 yuan/ton, down 3 yuan/ton from the previous trading day. At present, the epidemic situation in some markets is severe, some markets have been managed silently, and some market warehouses can temporarily pick up goods by virtue of 24-hour nucleic acid+green code, but the passage inspection takes a long time, and there is a risk that time and space will lead to yellow code or red code, so most market transactions are relatively cold. The traders fed back that they were reluctant to make a big change in prices near the end of the month, and because of the sporadic outbreak of the epidemic, they had a strong desire to avoid risks, mainly focusing on price stability and insurance. In terms of mentality, most traders are not optimistic about the future market and believe that the market will not turn sharply in the short term.

Medium and heavy plate: On October 24, the average price of 20mm plain plate in 24 major cities nationwide was 4117 yuan/ton, down 9 yuan/ton from the previous trading day. On the 24th, the market mentality remained weak. In addition to the recent weak downstream demand, most market merchants' quotations fell slightly, but the spot trading performance of plate was still poor. Due to the recent slowdown in market stock removal and the difficulty in stimulating demand, some businesses are still actively shipping. To sum up, due to the fact that the actual market demand has not reached the expectation, it is expected that the price of medium and heavy plates nationwide will be dominated by weak consolidation in the short term.