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Steel market price on January 30, 2023

Jan 31, 2023

Construction steel: On January 30, the average price of 20mm Grade III seismic deformed steel bars in 31 major cities nationwide was 4338 yuan/ton, up 35 yuan/ton from the previous trading day. In the short term, the overall attitude of manufacturers is optimistic. Since the Spring Festival is earlier this year, the time for returning to work after the holiday may also be earlier, and the demand recovery time may be earlier than last year. However, it should be noted that under the influence of the current policy of unlimited production in the market, the improvement of profits is expected to accelerate the resumption of production in steel mills, which will lead to a rapid recovery of production and an increase in supply pressure; At the same time, the price of raw materials is relatively weak in the near future, which has the risk of dragging down the production to a certain extent.

Hot rolled plate and coil: On January 30, the average price of 4.75mm hot rolled plate and coil in 24 major cities nationwide was 4310 yuan/ton, up 24 yuan/ton from the previous trading day. The price of the spot market rose basically in the morning, but fell in the afternoon. The price of some cities was loose, and the market transactions were general, most of which were mainly closed in secret. At present, most merchants have started to work, and the market has not recovered its momentum. Inventory in some markets has increased to some extent, but it is at a low level on a year-on-year basis. Merchant sales pressure is not high, but market demand is still weak. It is expected that the pressure of price rise will be high in the short term.

Cold rolled coil: on January 30, the average price of 1.0mm cold coil in 24 major cities across the country was 4713 yuan/ton, up 34 yuan/ton from the previous trading day. On the 30th, the hot spot futures market was operating with strong volatility. Now the traders have basically started, and the market is bullish, so it continues to rise. In the afternoon, some markets raised prices for the second time. In terms of transaction, since most downstream enterprises have not yet resumed work, the overall resumption of work is expected to be after the Lantern Festival, and the transaction performance on the 30th is relatively general. In terms of mentality, on the first day of the market opening after the holiday, the futures market welcomed a good start, and the market sentiment was relatively optimistic. At present, raw materials have some support for the price.

Medium and thick plate: On January 30, the average price of 20mm ordinary plate in 24 major cities across the country was 4380 yuan/ton, up 37 yuan/ton from the previous trading day. From the perspective of market conditions, traders and downstream enterprises have started construction in succession. The traders themselves have a pre-rising mentality, and the impact of the futures environment is superimposed, and the spot price is mostly pulled up. In terms of transaction, downstream production and processing have not been fully started, and workers' rework is continuing. The overall purchasing sentiment of the market is not high, and the transaction performance is relatively weak. In terms of resources, most of the market resources are still in the process of in-transit or warehousing. The market resources are mainly consumed in the early stage, and the total resources are in the state of accumulation. In terms of mentality, due to the opening up of the epidemic, the downstream rush after the holiday and the continuous implementation of national investment, the traders are still in a positive attitude towards price.

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