On September 16, the domestic steel market price generally rose, and the ex-factory price of Tangshan ordinary billet was raised by 20 yuan($3/ton) to 5240 yuan/ton($818/ton). The steel futures market opened higher in early trading, and the trading atmosphere in the spot market was active. Steel inventories continued to decline this week, and merchants were bullish.
Construction steel: On September 16, the average price of 20mm three-level seismic rebar in 31 major cities of China was 5602 yuan/ton($875/ton), an increase of 45 yuan/ton（$7/ton） from the previous trading day.
Hot-rolled coils: On September 16, the average price of 4.75mm hot-rolled coils in 24 major cities of China was 5,815 yuan/ton($908/ton), an increase of 30 yuan/ton($4.6/ton) from the previous trading day. The weak supply and weak demand are dominated.
Cold rolled coil: On September 16, the average price of 1.0mm cold coil in 24 major cities of China was 6,510 yuan/ton($1017/ton), an increase of 4 yuan/ton（$0.6/ton） from the previous trading day.
Supply and demand of steel market
On the supply side: According to research, the output of 5 varieties of steel products was 9.7833 million tons this Friday, a decrease of 369,600 tons on a week-on-week basis. Among them, the output of rebar was 3.0715 million tons, a decrease of 200,800 million tons on a week-on-month basis; the output of hot-rolled coils was 3.1091million tons, a decrease of 79,200 tons on a week-on-month basis.
(5 varieties of steel products are: steel roads, shaped steel, steel coils, steel pipes, metal.)
On the demand side: Apparent consumption of 5 series steel this week was 10.1685 million tons, a week-on-week decrease of 537,500 tons.
In terms of inventory: the total steel inventory was 19.8548million tons this week, a week-on-week decrease of 385,200 tons, and a month-on-month decline for 6 consecutive weeks. Among them, the steel mill inventory was 5.8377 million tons, a week-on-week decrease of 118,900 tons; the social inventory was 14.0171 million tons, a week-on-week decrease of 266,300 tons.
Win Road International Steel Product
Post time: Sep-17-2021