Steel price on July 17, 2023

Building steel: On July 17th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3810 yuan/ton, a decrease of 18 yuan/ton compared to the previous trading day. In the short term, the market is still in a low demand season, while the growth rate of some economic data has slowed down, supply is still at a high level, and the supply-demand contradiction has not eased.

Hot rolled plate and coil: On July 17th, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 3888 yuan/ton, a decrease of 25 yuan/ton compared to the previous trading day. In terms of supply and demand, real demand continues to weaken, and hot and rainy weather continues. At present, there is a strong expectation for the second round of price hikes by coking enterprises, and the speculative sentiment in the iron ore market is still acceptable. But the fundamentals of finished products are weak, and the momentum of inflation is not strong.

Cold rolled sheet coil: On July 17th, the average price of 1.0mm cold coil in 24 major cities across the country was 4521 yuan/ton, a decrease of 3 yuan/ton compared to the previous trading day. On the 17th, the black futures market fluctuated and fell, and the Spot market price rose and fell with each other. In terms of transaction, there is a strong wait-and-see sentiment in the market, and downstream procurement is still mainly in demand, with average market transactions.

Medium thick plate: On July 17th, the average price of 20mm regular plate in 24 major cities across the country was 4102 yuan/ton, a decrease of 6 yuan/ton compared to the previous trading day. In terms of supply, the recent profits of steel mills have been decent, and the production of medium and thick plates has remained stable and released. However, due to the overall poor operating conditions of the terminal, the performance of steel mills in fixed rolling and receiving orders has been mediocre. In terms of circulation, affected by the decline in futures, spot prices fluctuate weakly and adjust slightly. Traders mostly follow the market, with shipments and payments mainly received. There is little speculative demand, and when it comes to buying goods, they are cautious and transactions are not warm or hot. In terms of demand, the northern region has entered a rainy and high-temperature season, with a slowdown in resource destocking. The decrease in orders for low alloy plates and wide and thick plates also confirms that downstream infrastructure and steel structure factories are also affected by the high temperature, resulting in average demand.