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Steel spot market on June 7

Jun 08, 2021

Construction Steel: On June 7, the average price of 20mm Class III seismic rebar in 31 major cities across the country was 5,200 yuan/ton, down 48 yuan/ton from the previous trading day. The snails tended to weaken and fluctuate. In the morning, the price of construction steel in most areas in the country was stable and loose. From the perspective of transactions, due to the heavy drop in black futures in the afternoon, the trading atmosphere in the spot market was deserted, high-level resources were low, and transactions were poor throughout the day. It is expected that the market price of construction steel products may continue to weaken and adjust on the 8th.


Hot-rolled coils: On June 7, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5539 yuan/ton, down 56 yuan/ton from the previous trading day. The black commodity futures market fell sharply today. The early quotations of the spot market fell slightly. After the drop, the market traded generally. With the weakening of the market, the spot price gradually declined. However, the transaction still did not improve after the drop. In addition, the current ordering costs are high. Choose to stay on the sidelines. At present, market prices are in a stage of rational return to consolidation. Coupled with the off-season of market demand, price weakness is also within a reasonable range, so there is no need to panic too much.


Cold rolled coil: On June 7, the average price of 1.0mm cold coil in 24 major cities across the country was 6,296 yuan/ton, down 41 yuan/ton from the previous trading day. Affected by the sharp decline of today's black futures, some varieties continued to make up for losses in the afternoon, and cold-rolled spot prices fell overcast. According to feedback from merchants, actual transactions today are still unsatisfactory. Affected by high costs and short-term bearish expectations, cold-rolled merchants mostly ship products. From the downstream point of view, more on-demand purchases are the main focus, short-term sentiment still exists, and a small amount of replenishment on dips. It is expected that on the 8th, domestic cold-rolled spot prices will fluctuate mainly downward.


Plate: On June 7, the average price of 20mm general-purpose plates in 24 major cities across the country was 5579 yuan/ton, down 45 yuan/ton from the previous trading day. Affected by policy factors, the bearish sentiment in the morning market increased, and the quotations were weak and stable. In the afternoon, the billet and the futures market fell sharply. The market made up for the decline, and the transaction was generally poor. Due to the recent weaker demand, the transaction has deteriorated, and there is a strong possibility of downward adjustment in the prices of raw materials. It is comprehensively predicted that the plate price on the 8th may maintain a volatile downward trend.

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