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Steel spot market on August 16

Aug 17, 2021

Construction Steel: On August 16, the average price of 20mm Class III seismic rebar in 31 major cities across the country was 5349 yuan/ton, down 11 yuan/ton from the previous trading day. From the perspective of transaction, due to the heavy rainfall in most provinces and cities, the market transaction performance is sluggish. At the same time, due to the weakening of the snails, there is less speculative demand in the market. In the afternoon, with the news of environmental protection production restrictions in Jiangsu, spot prices rebounded from low levels in individual cities, and transactions improved. Macro data shows that in July, new real estate construction and construction area fell sharply, and infrastructure investment fell year-on-year. At the same time, the average daily crude steel output in July fell sharply month-on-month, indicating that the current market is still in a pattern of weak supply and demand. At present, the recent market is still driven mainly by fundamentals, and it is expected that the domestic construction steel market prices may fluctuate in a narrow range on the 17th.

Hot-rolled coils: On August 16, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5,765 yuan/ton, an increase of 4 yuan/ton from the previous trading day. The spot market's early quotations rose slightly, but then the disk dived down, and spot prices fell one after another. However, there was no stepped down today. Although the market fell along with the market, the willingness to lower prices on the market was basically not strong. After a wide fluctuation in the market, the speculative demand in the market is still in a wait-and-see stage. This can be confirmed from the transaction. The terminal demand has recovered recently, but the speculative demand is waiting for market opportunities. The short-term market The shipment volume is acceptable and the pressure is not great. It is expected that the price of hot-rolled coils will remain fluctuating on the 17th.

Cold rolled coil: On August 16, the average price of 1.0mm cold coil in 24 major cities across the country was 6,525 yuan/ton, an increase of 10 yuan/ton from the previous trading day. According to feedback from cold-rolled merchants, the recent black system disk shocks have weakened, and the emotional side is still bearish. In some areas, the settlement is still significantly higher than the market price in the middle of the month. On the downstream side, short-term orders are insufficient for equipment to maintain low-load production, and raw materials are mostly purchased on demand, and financial pressure still exists. It is expected that on the 17th, domestic cold-rolled spot prices will fluctuate and become weaker.

Plate: On August 16, the average price of 20mm common plates in 24 major cities across the country was 5712 yuan/ton, down 2 yuan/ton from the previous trading day. At the supply level, although more steel mills resume production in the short term than overhaul, considering the impact of power curtailment in some areas, short-term steel mill output will remain at a low level, and the room for incremental increase is very limited. In terms of circulation, the recent market transactions have been light. On the one hand, the market fluctuates frequently, causing end users to hold money on the sidelines. On the other hand, stocks have begun to appear in some regions, and the resource structure is extremely unbalanced, which has a certain impact on sales. It is comprehensively estimated that the price of plate on the 17th will remain stable.

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