According to my steel analysis, on August 23, the domestic steel market price mainly increased, and Tangshan steel billet remained stable at 4910 yuan/ton.
Driven by the strengthening of the futures market, low-priced resources in the spot market today are traded fairly well, and the downstream enthusiasm for acquiring goods has increased. However, the steel market as a whole is still in a state of weak supply and demand.
According to my steel survey, on the 23rd, the average price of 20mm tertiary seismic rebar in 31 major cities across the country was 5,273 yuan/ton, an increase of 28 yuan/ton from the previous trading day. The average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5714 yuan/ton, an increase of 40 yuan/ton from the previous trading day. The average price of 1.0mm cold coils in 24 major cities across the country was 6,487 yuan/ton, an increase of 16 yuan/ton from the previous trading day. The average price of 20mm common plates in 24 major cities across the country was 5664 yuan/ton, an increase of 13 yuan/ton from the previous trading day.
The double-coke limit on the futures market has led to a rise in the finished product. The spot market sentiment has improved. In recent days, the overall trading atmosphere in the market has been active. Speculative demand and downstream construction sites have actively entered the market for purchases. After the merchants have reached the volume, prices have risen slightly. However, since the current spot market is still in a weak supply and demand situation, we still need to pay close attention to the disturbance of the supply-side policy in the later period, and the impact of local continuous rainfall on the demand side in the next few days. It is expected that steel prices will continue to fluctuate strongly on the 24th.
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