Steel price on April 25, 2023

Building steel: On April 24th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3904 yuan/ton, a decrease of 47 yuan/ton compared to the previous trading day. Specifically, during the early opening period, the snail market continued to weaken, while the spot prices of domestic construction steel continued to decline in the morning. From the transaction situation, merchants generally feedback that the market transaction atmosphere is poor, with weak demand for hard and speculative demand, and a strong pessimistic sentiment in the market, with average transactions throughout the day. In the short term, due to the continuous decline in spot prices, the market has insufficient expectations for pre holiday restocking, and merchants are pessimistic about the future market.

Hot rolled plate and coil: On April 24th, the average price of 4.75mm hot rolled plate and coil in 24 major cities across the country was 4041 yuan/ton, a decrease of 48 yuan/ton compared to the previous trading day. The contradiction between steel supply and demand has intensified, and the market is pessimistic. Coupled with negative feedback confirmation, spot prices in various links have collectively declined, and steel futures prices, which have shown strong performance in the early stage, have made up for the decline. From a supply perspective, as the profit margin of steel mills decreases, some domestic steel mills have recently taken the initiative to stop production for maintenance. As costs further decrease, there may still be room for steel spot prices to decline.

Cold rolled sheet coil: On April 24th, the average price of 1.0mm cold coil in 24 major cities across the country was 4613 yuan/ton, a decrease of 41 yuan/ton compared to the previous trading day. Most of the market prices are still falling, the transaction is still just in demand, and there is no speculative demand for the time being. In terms of supply, the production process has poor profits, and some steel mills will gradually shut down for maintenance in May; On an emotional level, prices continue to decline weakly, with traders having a pessimistic mentality.

Medium thick plate: On April 24th, the average price of 20mm regular plate in 24 major cities across the country was 4386 yuan/ton, a decrease of 31 yuan/ton compared to the previous trading day. Affected by the downward volatility of black futures, merchants have a bearish mentality, and downstream procurement efforts have slowed down. Therefore, most of the market's medium and heavy plate quotes have followed the downward trend, and trading performance throughout the day has been poor. In terms of resources, with the price adjustment, the north-south price difference has returned to a reasonable range. However, due to the empty market mentality, short-term traders are not willing to actively stock up.