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Steel market price on January 16, 2023

Jan 17, 2023

Construction steel: On January 16, the average price of 20mm Grade III seismic deformed steel bars in 31 major cities nationwide was 4257 yuan/ton, up 3 yuan/ton from the previous trading day. Affected by the price of raw materials, the price of domestic construction steel remained stable in the morning, and the price of some northern cities rose slightly. With the approaching of the Spring Festival holiday, the short-process steel factory has basically been on holiday, the market traders have mostly left the market and returned home, the trading behavior has basically stopped, the engineering projects have also been shut down, and the market procurement volume is very small. In the short term, with the basic stagnation of demand, the market presents a state of price without market.


Hot rolled plate and coil: On January 16, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 4218 yuan/ton, down 10 yuan/ton from the previous trading day. The cost support was loose, and the price of iron ore plummeted in the early trading of Jigang. At present, the supply and demand side is relatively weak. As more and more steel trade leaves the market during the holiday, the table demand and transaction volume fall seasonally. The expected GDP of 2023 was released by all regions, and market confidence rebounded.


Cold rolled coil: on January 16, the average price of 1.0mm cold coil in 24 major cities across the country was 4629 yuan/ton, which was the same as the previous trading day. On the 16th, the hot spot futures market was weak, but there was no obvious change in the market. The main reason was that less than 5 days before the Spring Festival, the downstream procurement ended in succession, nearly 70% of traders had a holiday as early as last weekend, and a small number of merchants had also entered the closing stage of work. At present, the market was basically in a state of price without market, and the trading atmosphere fell to the freezing point. In terms of mentality, for the post-holiday market, businesses believe that there will be a certain accumulation on the supply side, but the demand release needs to wait. Under the guidance of macro policies, the post-holiday market may have a wave of rise, but the rising space is limited.


Medium and thick plate: On January 16, the average price of 20mm ordinary plate in 24 major cities across the country was 4281 yuan/ton, up 3 yuan/ton from the previous trading day. With the Spring Festival holiday approaching, some regions have entered the state of market closure, and a small number of merchants in North China and Central China are still operating at a high price for shipment. In terms of steel mills, some northern steel mills have adjusted their prices, ranging from - 20 to+20 yuan/ton, and steel mills mainly offer more stable prices.

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