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Steel spot market on January 10, 2022

Jan 11, 2022

Construction steel: on January 10, the average price of 20mm grade III seismic deformed steel bars in 31 major cities in China was 4747 yuan / ton, an increase of 3 yuan / ton compared with the previous trading day. In the short term, on the one hand, affected by the resumption of blast furnace production, the output of construction materials picked up last week, but the growth rate was limited; On the other hand, the current market inventory continues to accumulate and will continue to increase in the short term. Near the Spring Festival, the demand for steel gradually stagnates, the market enters the real winter storage link of traders, and the fluctuation of steel price will narrow.


Hot rolled coil: on January 10, the average price of 4.75mm hot rolled coil in 24 major cities in China was 4816 yuan / ton, down 2 yuan / ton compared with the previous trading day. The third round of increase of coking coal and coke has landed one after another, supporting the gradual rise of the current price of coal. At the same time, the steel plant is also gradually speeding up the bidding. The steel plant has a strong willingness to replenish the stock and the rise of the cost of raw materials, which provides support for the price of hot-rolled coil. However, due to the weak performance of actual terminal demand and the weak willingness of most steel enterprises to trade in winter storage, prices lack the power to rise.


Cold rolled coil: on January 10, the average price of 1.0mm cold coil in 24 major cities in China was 5449 yuan / ton, an increase of 2 yuan / ton compared with the previous trading day. According to the feedback of traders, today's cold rolling market is pessimistic in the early stage. Most areas have made up a slight rise, most areas are still running at a high price, and the overall transaction is still weak. Near the Spring Festival, merchants are becoming more and more optimistic about cash and more shipments. Downstream, replenishment is more on demand, and some end-user orders are basically on holiday before the middle of the year.


Medium and heavy plate: on January 10, the average price of 20mm ordinary plate in 24 major cities in China was 5041 yuan / ton, down 17 yuan / ton compared with the previous trading day. In terms of varieties in the recent market, the trend of medium and heavy plate deviates from that of other varieties, especially in East China. The price smashing phenomenon occurs frequently, and the common plate has reached the lowest price in China. In terms of demand, with the price falling all the way, the terminal has a poor willingness to take goods, and it is difficult to make large-scale market transactions. In terms of resources, there are many arrival resources of common plate and low alloy in the north recently, and the social inventory has accumulated slightly.

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