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Steel market prices on March 21, 2022

Mar 22, 2022

Construction steel: On March 21, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,967 yuan/ton, up 12 yuan/ton from the previous trading day. The recent spread of the epidemic, such as the continuous escalation of epidemic prevention and control in Tangshan, Jiangsu and other regions, has an impact on the production end of steel mills and warehousing and logistics. On the other hand, it has continued to rain in some provinces in East China and southern China this week, or to a certain extent. influence on market sentiment.


Hot-rolled coil: On March 21, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 5,190 yuan/ton, up 23 yuan/ton from the previous trading day. The outbreak of the epidemic in many parts of the country has led to a decline in downstream demand, and logistics in some areas have been blocked. However, from the perspective of supply, the epidemic has slowed down the supply of hot coils, so in the short term, both supply and demand are weak. Now that we have entered the traditional demand season, the rebound of the epidemic may have a negative impact.


Cold-rolled coil: On March 21, the average price of 1.0mm cold coil in 24 major cities across the country was 5,646 yuan/ton, an increase of 11 yuan/ton from the previous trading day. According to the feedback from some regional traders, the market trading sentiment has improved slightly today. Most of the merchants focus on cashing out shipments, while small and medium-sized traders replenish their stocks at low prices, and the order volume of downstream industries has increased. The pressure is too high, and the mainstream market inventory in the southeast region is too high; from the perspective of mentality, the current traders are more cautious and pessimistic, and the short-term public health event has a great impact on demand, and cold rolling will continue to accumulate inventory.


Medium and heavy plate: On March 21, the average price of 20mm common plate in 24 major cities across the country was 5,225 yuan/ton, an increase of 7 yuan/ton from the previous trading day. In terms of supply, some steel mills in Hebei, Central China and East China have been overhauled recently, and the output has dropped significantly. From the perspective of circulation, affected by the control of the epidemic, both steel mills' delivery and downstream delivery have been affected to a certain extent, and the overall market circulation efficiency is declining. On the demand side, under the background of the epidemic, the progress of downstream demand recovery has been hindered, and it is difficult to show a strong momentum.

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