Steel market prices on June 1, 2022

Construction steel: On June 1, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,802 yuan/ton, up 16 yuan/ton from the previous trading day. The overall domestic construction steel prices continued the 31st rally. In the short term, the current market confidence has recovered. In addition, the Dragon Boat Festival holiday is approaching, and the market is expected to stock up before the holiday.

Hot-rolled coil: On June 1, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4,885 yuan/ton, up 2 yuan/ton from the previous trading day. In the spot market, quotations rose slightly in early trading, and the market transaction was weak. In the late afternoon, the volume price continued to rise, and market confidence was boosted. However, the overall transaction did not see obvious heavy volume, and the merchants were in general mood. On the whole, the price of futures continued to rise yesterday. With the improvement of the epidemic situation in various places and the acceleration of the resumption of work and production in East China, it may inject good expectations into the market and drive price support.

Cold-rolled coil: On June 1, the average price of 1.0mm cold coil in 24 major cities across the country was 5,433 yuan/ton, down 1 yuan/ton from the previous trading day. Hot roll futures broke through the "4800" mark, and most markets had strong trading sentiment, and the overall shipment situation was good. It is worth noting that on the first day of the Shanghai market unblocking, market merchants can basically go to work normally, but the market merchants have a strong wait-and-see attitude, and most merchants have a lot of pressure on funds and inventory. The current operation is mainly to return funds. In terms of mentality, futures continued to improve and the country issued a number of policies, the downturn in the early stage of the market has improved, and the mentality of merchants has improved.

Medium and heavy plate: On June 1, the average price of 20mm common plate in 24 major cities across the country was 5,110 yuan/ton, an increase of 3 yuan/ton from the previous trading day. The disk fluctuated upwards, but considering that the current market demand is still weak and the enthusiasm for downstream purchases is not high, the prices of medium and heavy plates in most markets remained flat throughout the day. In terms of transactions, the market is currently in a strong wait-and-see mood, with insufficient purchasing efforts, and the medium and heavy plate transactions performed poorly all day. In terms of resources, the current north-south price difference does not have the advantage of going south in batches. In addition, the market is slow in destocking, and merchants are currently not willing to replenish.