On December 28, the domestic steel market price continued its downward trend, and the price of ordinary billet in Tangshan remained stable at 4,290 yuan/ton($680/Ton). The black futures market was down again, and the spot market transactions shrank.
Steel spot market
Construction steel: On December 28, the average price of 20mm rebar in 31 major cities of China was 4,765 yuan/ton($756/Ton), down 31 yuan/ton($4.9/Ton) from the previous trading day.
Hot-rolled coils: On December 28, the average price of 4.75mm hot-rolled coils in 24 major cities in China was 4,788 yuan/ton($760/Ton), down 15 yuan/ton($2.38/Ton) from the previous trading day.
Cold rolled coil: On December 28, the average price of 1.0mm cold coil in 24 major cities across the country was 5457 yuan/ton($866/Ton), down 13 yuan/ton($2/Ton) from the previous trading day.
Raw material spot market
Imported ore: On December 28, the price of imported iron ore declined slightly, traders were enthusiastic about making offers, trading sentiment was weak, and transactions were relatively quiet.
Coke: On December 28, the coke market operated steadily and strongly.
Scrap steel: On December 28, the scrap market price was weak, and the scrap price of mainstream steel mills was reduced by RMB 20/ton($3.17/Ton).
Supply and demand of steel market
On the whole, it is the end of the year, and the overall pressure on market funds is tight, and the willingness of merchants to speed up shipments and withdraw funds dominates. Judging from the current winter storage situation, the spot price is still higher than the same period of last year, and most businesses temporarily choose to wait and see.
Post time: Dec-29-2021