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Steel market prices on September 20, 2022

Sep 21, 2022

Construction steel: On September 20, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 4,106 yuan/ton, down 8 yuan/ton from the previous trading day. In the short term, the electric furnace factory has re-entered a loss-making state, and the production rhythm of the steel factory has slowed down slightly; although the typhoon has passed through the country, the demand side has been unstable due to the emotional impact. At the same time, the recent Fed rate hike is imminent, or there may be some pressure on commodities.


Hot-rolled coil: On September 20, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 4,008 yuan/ton, down 17 yuan/ton from the previous trading day. At present, the overall weak balance between supply and demand in the market continues, and it is difficult for the market demand to pick up significantly. In addition to the recent Fed rate hike expectations, the overall market merchants are more pessimistic, and it is more difficult for prices to rise in the short term. On the whole, short-term hot-rolled coil The price may continue to be dominated by weak shocks.


Cold-rolled coil: On September 20, the average price of 1.0mm cold coil in 24 major cities across the country was 4,482 yuan/ton, down 4 yuan/ton from the previous trading day. On the 20th, the spot market quotation fell slightly, but the overall decline was not large, the decline was 20-30 yuan / ton, the futures market fluctuated downward in the afternoon, the number of inquiries decreased significantly, the enthusiasm for downstream purchases in the market was not high, and traders were difficult to ship. The overall transaction performance on the 20th was poor. It is understood that the Urumqi market is gradually being liberalized, and merchants are mainly operating to return funds from shipments. However, according to merchants, the market demand in Xi'an and Urumqi is insufficient, and market transactions are still weak, while Lanzhou has few market resources, and merchants are willing to support prices. 


Medium and heavy plate: On September 20, the average price of 20mm common plate in 24 major cities across the country was 4,220 yuan/ton, down 8 yuan/ton from the previous trading day. With the narrowing of profits again, there is limited room for the supply side to release, basically, the pre-inspection and repair of production are mainly based, and there is almost no active production increase. Yields have basically remained within a certain range. Inventory remains destocked. The enthusiasm for purchasing downstream of the terminal is not good, and traders are cautious about replenishment. East China is still a price depression, superimposed by the recent impact of typhoons, the release of demand is less than expected, and the market performance lacks confidence. Northern resources can only be digested around, and the speed of destocking is slow, which restricts price increases. Currently in the peak season of traditional consumption, but the demand has not been released as scheduled, and the transaction logic of the market is still the expectation of the release of demand in the peak season. However, most merchants lack confidence in the market outlook, and there is a situation in which profits are shipped.

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