Steel spot market on February 8, 2022

Construction steel: on February 8, the average price of 20mm grade III seismic deformed steel bars in 31 major cities in China was 4965 yuan / ton, an increase of 73 yuan / ton compared with the previous trading day. Specifically, in the early trading period, the snail fluctuated upward, most steel mills continued to push up, and the price of domestic construction steel rose sharply in the morning. In terms of transaction, on the second day after the festival, traders continued to return to the market for construction. Although the quotation increased, there were few inquiry calls in the overall market and the transaction was depressed. In the short term, as the demand has not yet started, the current spot rise is still mainly driven by steel mills, and traders have high enthusiasm to follow up.

Hot rolled coil: on February 8, the average price of 4.75mm hot rolled coil in 24 major cities in China was 5075 yuan / ton, up 64 yuan / ton from the previous trading day. At present, under the background of limited production in the Winter Olympics, the output continues to decline slightly. With the resumption of work and production of various enterprises and the upcoming peak consumption season, the demand may gradually improve, and the market sentiment is more optimistic.

Cold rolled coil: on February 8, the average price of 1.0mm cold coil in 24 major cities in China was 5576 yuan / ton, up 51 yuan / ton compared with the previous trading day. Due to the strong upward trend of black futures after the festival and the increase of raw material prices during the Spring Festival, the spot market is more active. Traders follow the market and pull up one after another, but the overall transaction is general. The order recovery speed is slow in a short time, but the market inventory pressure is not large.

Medium and heavy plate: on February 8, the average price of 20mm ordinary plate in 24 major cities in China was 5238 yuan / ton, up 67 yuan / ton from the previous trading day. The trading business continued to start, the quotation increased significantly, and the market was on track. However, as downstream enterprises generally return to work after the 15th day of the first month, the demand has not been significantly released for the time being. The cumulative probability of this year's post holiday inventory is lower than that of previous years, mainly due to the impact of the Winter Olympic Games, and the overall output is at a low level.