On October 18, the domestic steel market generally fell, and the ex-factory price of Tangshanpu's billet remained stable at 5200 yuan/ton($812/ton).
On the 18th, 12 domestic steel mills reduced the ex-factory price of construction steel by RMB 30-80/ton($4.7/ton-$12.5/ton).
Construction steel: On October 18, the average price of 20mm rebar in 31 major cities in China was 5,824 yuan/ton($910/ton), down 57 yuan/ton($8.9/ton) from the previous trading day.
Hot-rolled coils: On October 18, the average price of 4.75mm hot-rolled coils in 24 major cities in China was 5837 yuan/ton($912/ton), down 24 yuan/ton($3.75/ton) from the previous trading day.
Cold rolled coil: On October 18, the average price of 1.0mm cold coil in 24 major cities in China was 6,514 yuan/ton($1017/ton), down 10 yuan/ton(1.56$/ton) from the previous trading day.
Raw Material Market
Imported ore: On October 18, the spot market price of imported iron ore fluctuated and the trading sentiment was normal. Traders followed the market and steel mills purchased on demand.
Coke: On October 18, the coke market was temporarily operating steadily.
Scrap steel: On October 18, the average price of scrap steel in 45 major markets in China was 3380 yuan/ton($528/ton), which was 1 yuan/ton higher than the price of the previous trading day.
Supply and demand of steel market
Steel output: The national average daily output of crude steel in September was 2.4583 million tons, a month-on-month decrease of 8.4%. In the first ten days of October, main steel facories produced 1.8732 million tons of crude steel per day, an increase of 5.90% month-on-month
Post time: Oct-19-2021