On November 3, the domestic steel market prices fell mainly, and the ex-factory price of ordinary steel billets in Tangshan remained stable at 4,900 yuan/ton.
Steel spot market
Construction steel: On November 3, the average price of 20mm rebar in 31 major cities in China was 5134 yuan/ton, down 54 yuan/ton from the previous trading day. The market opened in the morning, and the domestic construction steel prices continued their two-day decline, and the overall decline. Some markets stopped falling and stabilized in the afternoon. In the short term, the current spot price of rebar has fallen to near the cost, and there is a certain bottom support. But the current market speculative sentiment is relatively poor, merchants generally focus on cashing out profits, and low-price selling in the market is common.
Hot-rolled coils: On November 3, the average price of 4.75mm hot-rolled coils in 24 major cities in China was 5247 yuan/ton, down 3 yuan/ton from the previous trading day.
Cold rolled coil: On November 3, the average price of 1.0mm cold coil in 24 major cities in China was 6,112 yuan/ton, down 42 yuan/ton from the previous trading day. Recently, market prices in various regions have continued to fall, and market sentiment has been slack. In the morning, merchants preferentially give priority to shipments, but actual shipments have not improved significantly.
Raw material spot market
Coke: On November 3, the coke market was operating weakly, and the first round of 200 yuan/ton reduction has already landed.
Scrap steel: On November 3, the average price of scrap steel in 45 major markets of China was 3,150 yuan/ton, a decrease of 68 yuan/ton from the previous trading day.
Supply and demand of steel market
In the first half of this week, the steel market volume and price all fell. For 237 distributors, the daily trading volume of building materials this Monday and Tuesday was 164,000 tons and 156,000 tons, respectively. The average daily trading volume of building materials last week was 172,000 tons. After many consecutive days of sharp declines, futures such as thermal coal, coking coal, and coke rebounded strongly. Steel futures also showed signs of stopping their declines, and market pessimism eased. In the second half of the week, the trading volume of the steel market may improve, and the decline of steel prices may slow down, with some rebounds. The futures market continues to lead the spot market.
Post time: Nov-04-2021