Steel spot market on February 14, 2022

Construction steel: on February 14, the average price of 20mm grade III seismic deformed steel bars in 31 major cities in China was 5010 yuan / ton, down 22 yuan / ton from the previous trading day. Terminals started one after another, with less procurement, few speculative demand, and poor transaction performance throughout the day. In the short term, dragged down by the raw material side, the futures snail weakened, driving the rise of market risk aversion and increasing market demand for cash out, but the overall demand is weak.

Hot rolled coil: on February 14, the average price of 4.75mm hot rolled coil in 24 major cities in China was 5073 yuan / ton, down 52 yuan / ton from the previous trading day. Affected by the policy side, the regulation of upstream iron ore, coking coal and coke has been upgraded, the price of raw materials has fallen, the cost pressure has been released, the price of hot coil has fallen, the market sentiment has gradually become negative and the market response has been poor. It is expected that the market will be relaxed before the Olympic Games.

Cold rolled coil: on February 14, the average price of 1.0mm cold coil in 24 major cities in China was 5611 yuan / ton, down 9 yuan / ton from the previous trading day. Today, the price of black futures fell broadly, the spot price of hot rolling fell sharply, and some cities in the cold rolling market fell. According to the feedback, the merchants have fully resumed work and production, the procurement enthusiasm of downstream end users is biased, and the cold rolling transaction is weak. From the point of view of mentality, the market merchants are cautious about the overall market this week, the inventory pressure in some markets is large, and the merchants mainly ship more goods.

Medium and heavy plate: on February 14, the average price of 20mm ordinary plate in 24 major cities in China was 5239 yuan / ton, down 29 yuan / ton from the previous trading day. In the short term, restrained by the price of raw materials, the market sentiment is cold. With the gradual recovery of demand and the increase of speculative demand, the circulation of goods in the market, it is comprehensively expected that the price of domestic medium and heavy plate may be dominated by weak operation and the decline will be narrowed.