On August 24, the domestic steel market generally rose, and the ex factory price of Tangshan ordinary billet increased by 20 to 4930 yuan / ton. Today, the black futures market rose across the board, market sentiment preference, traders reported high shipments, but the trading volume declined.
Cold rolled coil: on August 23, the average price of 1.0mm cold coil in 24 major cities in China was 6487 yuan / ton, up 16 yuan / ton compared with the previous trading day.
Today's strong Futures Volatility and the relatively high settlement of steel mills have stimulated many merchants to sell at a high price; The price difference between the north and the South continued to narrow. In addition, the overall demand has not been released, and the overall transaction is weak. In the downstream, the recent downstream order receiving situation is general, the equipment has not been fully started, raw materials are mostly purchased on demand, and there is still capital pressure. It is expected that the spot price of domestic cold rolling will fluctuate in a narrow range on the 24th.
Steel Scrap: on August 23, the scrap market price was weak, the scrap price of mainstream steel mills was stable, and the scrap price of mainstream market was stable. The average price of scrap steel in 45 major markets in China was 3272 yuan / ton, up 6 yuan / ton compared with the price of the previous trading day. The preference of current price performance in the finished product period has boosted the confidence in the scrap market, and the market receiving price has been corrected to a certain extent.
However, due to the limited demand recovery of steel mills and the continuous decline of ore prices, the upward trend of scrap prices is relatively weak, and the market is difficult to be greatly improved. The scrap price is expected to be stable on the 24th.
Steel market forecast
In the futures market, the double focus limit has driven the rise of finished products, and the mood in the spot market has improved. In recent days, the overall trading atmosphere in the market is active, speculative demand and downstream construction sites are actively entering the market for procurement, and the price rises slightly after the turnover of merchants. However, as the current spot is still in the weak situation of both supply and demand, it is still necessary to pay close attention to the disturbance of supply side policies in the later stage and the impact of local continuous rainfall weather on the demand side in the next few days. It is expected that the steel price will continue to fluctuate strongly on the 24th.
Post time: Aug-25-2021