Steel market prices on May 25, 2022

Construction steel: On May 25, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,766 yuan/ton, down 32 yuan/ton from the previous trading day. The market turnover remained weak in early trading, and the terminal had a strong wait-and-see mood, and the intraday price continued to loosen. In the afternoon, as the futures snails rebounded from oversold, the spot price stopped falling and stabilized. In the short term, the recent demand continues to be sluggish, and the market inventory pressure is gradually emerging.

Hot-rolled coil: On May 25, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4,865 yuan/ton, down 13 yuan/ton from the previous trading day. The spot market price dropped slightly in early trading, and the market transaction was weak. In the late afternoon, the volume price rebounded from the bottom, the market price stabilized, and the merchants' mood eased. In general, the recent market trend is still weak, and market demand has not improved significantly. The overall pace of resumption of work in areas affected by the epidemic is slow, restraining the release of demand, and limited downstream procurement in the short term.

Cold-rolled coil: On May 25, the average price of 1.0mm cold coil in 24 major cities across the country was 5,442 yuan/ton, down 18 yuan/ton from the previous trading day. The market trading atmosphere is extremely deserted, and it is difficult for merchants to deliver goods. In the afternoon, some market prices were lowered again, but the market transactions still did not improve after the reduction. The hot futures volume has continued to decline. Although there is a slight rebound, the downstream is more pessimistic about the market outlook, and the enthusiasm for purchasing is extremely poor. Near the end of the month, a new round of orders begins, and the current operations of various merchants are mainly to return funds.

Medium and heavy plate: On May 25, the average price of 20mm common plate in 24 major cities across the country was 5,115 yuan/ton, down 19 yuan/ton from the previous trading day. The market is mainly volatile, and the market mentality continues to be weak. In addition, the current downstream purchasing enthusiasm is not high, and most traders' quotations gradually dropped slightly. In terms of transactions, in the falling market, most market transactions performed poorly. In terms of resources, although the current north-south spread has been slightly repaired, most merchants are still relatively bearish about the market outlook, and they are not willing to take the initiative to stock up.