Steel spot market
Construction steel:
On March 23, the average price of 20mm grade 3 rebar in 25 major cities across the country was 4,771 yuan/ton, down by 22 yuan/ton from the previous trading day. Due to a sharp drop in the night trading futures, the price of construction steel in some major cities in China eased slightly in the morning. In the afternoon, as futures continued to fall, shipments of high-end resources in the market were not smooth, speculative demand decreased, and overall transactions were weaker than the previous day. At present, the price of raw materials has continued to pull back recently, which may have a certain impact on the finished product. In addition, the excessively rapid price increase has caused poor transactions and the market is under pressure to adjust. The price of construction steel is expected to fluctuate mainly within a narrow range.
Hot-rolled coils:
On March 23, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5,085 yuan/ton, down 8 yuan/ton from the previous trading day. The price of the black commodity futures market today fluctuated at a high level. The early quotations of the spot market fell slightly, but the transactions were average, but speculative demand began to appear at the low level. With the decline in the disk, the afternoon market quotations were significantly weaker. The current spot market mentality is weak and opposite. Following strong follow-up, coupled with the impact of the North China production restriction event, the supply of hot coils is hovering at a low level, while the stability of cold-rolled substrates and downstream demand, the short-term fundamentals of hot-rolled are acceptable, and short-term prices may remain high and fluctuating.
Cold rolled coil:
On March 23, the average price of 1.0mm cold coil in 24 major cities across the country was 5719 yuan/ton, which was the same as the previous trading day. According to feedback from various markets, prices in East China are currently at a high level, high-priced resources in the market are deviated, and market inventories are difficult to overcome. At this stage, traders have mainly lowered their stocks; some market quotations in the afternoon have fallen mainly, and downstream demand is difficult to increase. sign. On the whole, domestic cold-rolled prices were weak and stable on March 24.
Steel market forecast：
When the market opened at the beginning of the week, the news of Tangshan's environmental protection production restriction was once again fermented, coupled with the sharp rise of steel billets, traders' quotations were raised one after another, and steel prices continued to hit new highs. Affected by the high price correction in the futures market, the spot market price also saw a slight drop. The overall pessimism in the market has increased. Most merchants have begun to sell profitable resources, and the activity of market transactions has declined. It is expected that domestic steel prices will fluctuate at a high level in the short term.
