On March 10, the domestic steel market generally fell, and the ex-factory price of Tangshan common billet fell by 40 to 4,720 yuan/ton.
Construction steel: On March 10, the average price of 20mm in 31 major cities in China was 4,961 yuan/ton($793/ton), down 34 yuan/ton（$5.44/ton） from the previous trading day.
Hot-rolled coil: On March 10, the average price of 4.75mm hot-rolled coil in 24 major cities in China was 5,160 yuan/ton($825/ton), down 61 yuan/ton($9.7/ton) from the previous trading day.
Cold-rolled coil: On March 10, the average price of 1.0mm cold coil in 24 major cities in China was 5,677 yuan/ton($908/ton), down 31 yuan/ton($4.96/ton) from the previous trading day.
This week, the market price of steel showed a trend of rising and falling. Affected by the rise in international commodity prices and the expectation of better demand in the starting season, the steel futures and the spot market rose sharply on Monday. In the next few days, due to the fear of heights in the steel market, the bulls cashed in profits, the trading volume was low, and the international bulk commodity prices rose and fell, and the steel prices also entered a correction stage.
In the later forecast, the international situation, domestic regulatory measures, and changes in the fundamentals of supply and demand will cause disturbances to steel prices, and the market is complex and changeable. As the average price of some steel varieties has basically returned to the level of last Friday, today's low-price transactions have improved, the previously suppressed demand has gradually been released, and the steel inventory may further decline. Short-term steel prices are expected to stop falling.
Post time: Mar-11-2022