On September 27, the domestic steel market price mainly increased, and the ex-factory price of Tangshan ordinary billet remained stable at 5190 yuan/ton($810/ton).
Steel spot market
Construction steel: On September 27, the average price of 20mm three-level seismic rebar in 31 major cities of China was 5,773 yuan/ton($902/ton), an increase of 22 yuan/ton($3.4/ton) from the previous trading day.
Hot-rolled coils: On September 27, the average price of 4.75mm hot-rolled coils in 24 major cities of China was 5,796 yuan/ton($905/ton), an increase of 8 yuan/ton($1.25/ton) from the previous trading day.
Cold rolled coil: On September 27, the average price of 1.0mm cold coil in 24 major cities of China was 6,485 yuan/ton($1013/ton), which was same as the previous trading day.
Raw material spot market
Imported ore: On September 27, the market price of imported iron ore rose slightly. Traders offered more positive offers and sentiment on the price. Steel companies just needed to replenish their inventory, and the overall market inquiries were average.
Coke: On September 27, the market was temporarily operating steadily.
Scrap Steel: On September 27, the market price of scrap steel remained stable, and the scrap price of mainstream steel mills remained stable.
Supply and demand of steel market
In the short term, the quantity of steel production will still show a downward trend due to limited production and power restrictions, superimposed on the small peak of pre-holiday procurement, market demand has been released, inventory has further decreased, and overall resource supply is tight.
Win Road International Steel Product
Post time: Sep-28-2021