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Steel market price on May 17

May 18, 2021

Rebar: On May 17, the average price of 20mm three-level seismic rebar in 31 major cities across the country was 5826 yuan/ton, down 274 yuan/ton from the previous trading day. On the 17th, the overall transaction performance was poor, resources continued to be low and reliable, speculative demand decreased, terminals purchased on demand, transaction enthusiasm was weakened, and merchants' mentality was sluggish. In the short term, the popularity of the bulk commodity market has recently cooled, and terminal funding pressure has eased. The current market demand is relatively stable, and the contradiction between supply and demand is not prominent. The price of domestic construction steel products is expected to narrow down on the 18th.


Hot-rolled coils: On May 17, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 6,258 yuan/ton, down 211 yuan/ton from the previous trading day. The spot market’s early quotations fell slightly on the 17th. After the drop, market transactions were weak. After the drop, prices continued to fall. It was still difficult to make transactions after the fall. Speculative demand in the market also began to appear on the sidelines. The sentiment was significantly weakened. Enthusiasm has obviously cooled down, but the fundamentals have not changed significantly, and it is expected to maintain a weak and stable operation after a short-term correction.


Cold rolled coil: On May 17, the average price of 1.0mm cold coil in 24 major cities across the country was 6,954 yuan/ton, down 170 yuan/ton from the previous trading day. Affected by the volatility and weakening of black futures and the general sentiment of rising and falling, the overall steel price continued to pull back. According to feedback from merchants, prices.

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Rogers

Rogers Zhang