Ⅰ. Summary of spot and futures prices for steel
On May 9th, the domestic steel market experienced mixed ups and downs, with Tangshan Qian'an Pu square billet factory reporting a stable price of 3100 yuan/ton including tax. The overall performance of market transactions is average, with terminal procurement maintaining essential needs, weak resource transactions, and a strong wait-and-see sentiment in the market.
On May 9th, the ex factory price of construction steel from three steel mills increased by 20-40 yuan/ton.
| Summary of Steel Prices (Unit: Yuan/Ton) | ||
| Variety | Specification | National average price |
| Deformed Steel Bar | HRB400E 20mm | 3489 ↑5 |
| Panluo | HRB400E 8mm | 3651 ↑2 |
| Wire | 8.0 High Line HPB300 | 3628 ↑3 |
| Hot Rolled Coil | 4.75mm | 3492- |
| Hot Rolled Strip Steel | 3.0mm*685 | 3457 ↑7 |
| Medium And Heavy Plate | Pu 20 m m | 3598 ↑3 |
| Shipbuilding Board | 20mm | 3833- |
| Cold Rolled Coil | 1.0mm | 3900 ↑3 |
| Galvanized Sheet Coil | 1 . 0mm Galvanized | 4019 ↑3 |
| H-Beam | 300*300 | 3419 ↑9 |
| Corner Groove | Channel 16# | 3538 ↑5 |
| Welded Pipe | 4 inches * 3.75 | 3665 ↑4 |
| Galvanized Pipe | 4 inches * 3.75 | 4254 ↑5 |
| Seamless Tube | 108*4.5 | 4284- |
Ⅱ. Daily price trend of steel varieties
Threaded steel: On May 9th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3489 yuan/ton, an increase of 5 yuan/ton from the previous trading day. This week, the production of threaded steel continued to decline, and due to the impact of the holiday, the apparent consumption weakened synchronously, resulting in a slight decrease in social inventory. Overall, the market has continued to rise and stabilized at a high level. Under the weak supply-demand pattern, there is insufficient upward momentum in prices, and short-term peak season support still exists. Therefore, it is expected that domestic construction steel prices will maintain a narrow range of fluctuations next week.
Hot rolled coils: On May 9th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3492 yuan/ton, unchanged from the previous trading day. The overall recovery of downstream orders and export orders for coil plates is due to high raw material costs, steel mill maintenance and production restrictions, and export diversion, resulting in a marginal contraction of supply; Manufacturing industries such as automobiles, shipbuilding, and new energy have strong demand resilience, but the real estate sector continues to be sluggish, supported by high raw material costs, low inventory, and external demand resilience. Overall, it is expected that the prices of hot-rolled coils will continue to fluctuate upwards in the near future.
Cold rolled coils: On May 9th, the average price of 1.0mm cold coils in 24 major cities across the country was 3900 yuan/ton, an increase of 3 yuan/ton from the previous trading day. The spot market prices for cold rolling have remained stable, but overall transactions were weak over the weekend, and some traders have some bargaining space to stimulate shipments. The current cost support still exists, and it is expected that the national cold-rolled coil prices will show a fluctuating and strong trend next week.
Medium thick plate: On May 9th, the average price of 20mm ordinary plate in 24 major cities across the country was 3598 yuan/ton, an increase of 3 yuan/ton from the previous trading day. The operating rate, capacity utilization rate, and output of steel mills are all at a high level, and production scheduling continues to tilt towards high-profit varieties of steel. General plate resources are tight, some specifications are out of stock, and prices are increased. Traders have a strong mentality of being reluctant to sell and maintain prices, which provides strong support for spot prices; Downstream essential needs such as construction machinery, ships, and wind power still have resilience, but after prices continue to rise, terminal purchases tend to be cautious, and high-level transactions have slowed down, making it difficult to reproduce a concentrated and high-volume market. Overall, the combination of high cost support and strong demand resilience is still present, and it is expected that the prices of medium and thick plates in the national market will fluctuate at a high level next week.
Ⅲ. Steel market price forecast
Futures market trading is absent, spot market transactions are flat, and there is not much pressure on merchants to ship. Terminal purchases are mainly based on demand. On the raw material side, the third round of increase in coke prices has landed, with strong cost support. It is expected that the short-term increase in steel prices will slow down.
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Wuxi Shide
