On September 29, the domestic steel market mainly rose, and the ex-factory price of Tangshan billet rose by 20yuan($3/ton) to 5,210 yuan/ton($826/ton). In terms of trading volume, the pre-holiday stocking demand decreased compared with the previous two days.
Steel spot market
Construction steel: On September 29, the average price of 20mm three-level seismic rebar in 31 major cities of China was 5895 yuan/ton($935/ton), an increase of 45 yuan/ton($7/ton) from the previous trading day.
Cold rolled coil: On September 29, the average price of 1.0mm cold coil in 24 major cities of China was 6,485 yuan/ton($1029/ton), an increase of 2 yuan/ton($0.3/ton) from the previous trading day.
Hot-rolled coils: On September 29, the average price of 4.75mm hot-rolled coils in 24 major cities of China was 5,822 yuan/ton($924/ton), an increase of 22 yuan/ton($3.5/ton) from the previous trading day.
Raw material spot market
Coke: On September 29, the coke market was temporarily operating steadily.
Scrap steel: On September 29, the price of scrap steel was stabilized. The average price of scrap steel in 45 major markets of China was 3334 yuan/ton($529/ton), which was 1 yuan/ton($0.16/ton) lower than the price of the previous trading day.
Supply and demand of steel market
The impact of limitation policy of production and power continues to increase, and the and the market has strong advocates for price increases. Most leading steel mills have raised the ex-factory prices of building materials. Today, the prices from merchants have increased obviously. As the National Day holiday approaches, the willingness of downstream replenishment warehouses has gradually weakened. Considering that some resources in the market are still in short supply, merchants are also reluctant to sell, and steel prices continue to run at a high level.
Post time: Sep-30-2021