On the 31st, the Domestic Steel Index (Myspic) composite index closed at 136.64, down 2.84% from last week, down 7.31% from last month, and down 14.08% from the same period last year. On the supply side, the supply of major steel varieties on Friday was 8.557 million tons, an increase of 74,500 tons week on week, an increase of 0.9%. On Friday, the total steel inventory of 23.419 million tons, down 995,600 tons week on week, down 4.10%.
In terms of consumption, the weekly consumption of large varieties on Friday was 9,552,600 tons, an increase of 4.6%; Among them, the consumption of building materials increased by 14.5%, and the consumption of sheet metal decreased by 1.4%. On Friday, there was a certain differentiation in the consumption of building materials and plates in the big varieties, with an increase in the consumption of building materials and a decrease in the consumption of plates, mainly due to the increase in the hot roll society bank this week, which was more obvious in the northwest of South China. Hot coil supply continues to remain high, but demand is weak, resulting in the accumulation of inventory. On the 31st, the Domestic Steel Index (Myspic) composite index closed at 136.64, down 2.84% from last week, down 7.31% from last month, and down 14.08% from the same period last year. On the supply side, the supply of major steel varieties on Friday was 8.557 million tons, an increase of 74,500 tons week on week, an increase of 0.9%. On Friday, the total steel inventory of 23.419 million tons, down 995,600 tons week on week, down 4.10%.
1, construction steel
The building materials market fell sharply this week, and the national average price of rebar fell 121 yuan/ton week on week. This week, dragged down by the decline of raw materials, market expectations weakened, the price for volume operation increased, and the price fell significantly throughout the week. Next week, with the further repair of steel mill profits, there is little room for production decline, and the demand for stock remains, and the overall inventory continues to go away, but the market mentality is relatively weak.
2, hot rolled coil
On March 29, the price of hot rolled coil fell in the major cities of the country, black commodity futures fell in shock, the 05 contract closed down 2%, the spot market price fell in the morning, and the transaction was poor, and the futures continued to fall in the afternoon, and the spot and the transaction were poor.
East China market: as of press release, 1500mm general carbon hot roll mainstream offer 3660-3680 yuan/ton, 1800 wide roll offer 3810-3840 yuan/ton, 1500mm low alloy mainstream offer 3820-3840 yuan/ton, 1800mm low alloy offer 3930-3950 yuan/ton. This week as a whole, due to the weakening of the futures board, the market is currently poor traders mentality, downstream procurement positive to the poor, still maintain a wait-and-see state. Shanghai market inventory is less, resulting in a situation of weak supply and demand in the market. A few traders have little inventory pressure, there is a price mentality, and some traders have greater pressure to collect cash and drop shipments, but the number of shipments is small. The market price is more chaotic. On the whole, it is expected that the price of hot rolled sheet metal in the near future will fluctuate and run weakly.
South China market: Hot rolled coil prices in Guangzhou this week are weak and demand is poor. At present, the general volume price of 4.75mm above the steel mill is 3690-3700 yuan/ton, the low alloy volume price is between 3840-3860 yuan/ton, and the price of hot roll in Guangzhou fell 30-100 yuan/ton from last week. In terms of the market, hot coil futures this week fluctuated down, the market mentality was pessimistic, and the trading performance was general. In terms of resources, although the processing volume data is good, inventories are still accumulating. It is understood that the spot stock of hot rolled coil in Guangdong is 990,000 tons, an increase of 47,000 tons from last week. On the whole, considering the current inventory is too large and the market mentality is pessimistic, it is expected that the price of hot rolled coil in Guangdong will still maintain a narrow range next week.
North China market: this week hot rolling price shock weaker operation, of which Tianjin hot roll price is 3660 yuan/ton; Beijing hot roll price is 3850 yuan/ton; Tangshan hot roll price is 3650 yuan/ton; Handan hot volume price is 3650 yuan/ton; Shijiazhuang hot roll price is 3760 yuan/ton; The overall reduction is 10-110 yuan/ton. From the month-on-month point of view, the price of Beijing-Tianjin-Hebei hot roll was reduced by 240-260 yuan/ton compared with the previous month, and from the year-on-year point of view, the price of Beijing-Tianjin-Hebei hot roll was reduced by 530-700 yuan/ton compared with the same period last year. The seventh round of coke reduction fell quickly, cost support weakened again, the market was cautious about the subsequent market, the downstream terminal procurement mentality was not good, and traders shipped funds at low prices. According to market feedback, hot metal production has stopped falling and rebounded, and iron ore demand is expected to improve. However, the downstream demand continues to doubt the improvement, the steel mill resumption progress is slow, the volume price is still restricted. Affected by the lack of real estate and infrastructure construction, the peak season demand is difficult to see improvement, the market is cautious for the subsequent market, the downstream terminal procurement mentality is not good low-cost on-demand procurement, near the end of the month traders reduce the warehouse shipment return funds operation. In summary, it is expected that the price of hot rolled coil in Beijing Tianjin-Hebei will run in a narrow range next week.
3. Medium and thick plate
This week, the national medium and thick board market price shock fell.
The price of thick plate in the Shanghai market fell this week, as of press release, the mainstream general board price of 3810 yuan/ton, down 60 yuan/ton from last week, the mainstream manganese board price of 3940 yuan/ton, down 70 yuan/ton from last week. Pingsteel general manganese price gap narrowed. In terms of the market, this week, the black futures board fluctuated downward, the price fell continuously without a day to pull up, and the market mentality was not good. It is understood that traders are not optimistic about the future market in the near future, most of the East China mid-board customers this week in advance of low prices, but transactions are still limited. In terms of resources, this week, the first batch of Tongling rotating force general board new goods into storage, Hengrun general board shipments less, supplementing the market general board resources, and six steel this week shipments are still faster, is also based on general board, Pingsteel low alloy shipments in general, the market general manganese ratio gradually balanced. In terms of inventory, as of this Thursday, the Shanghai medium board inventory decreased by 6,000 tons from last week, about 148,000 tons. Nationwide, 27 Mysteel monitoring of 37 thick plate production enterprises in the country, this week’s operating rate of 81.54%, week-on-week flat; The actual weekly output of the steel plant was 1,509,300 tons, an increase of 29,600 tons week on week; The capacity utilization rate of steel mills was 92.82%, up 1.82% week on week; Steel inventory of 796,700 tons, week on week down by 2,000 tons. To sum up, it is expected that the Shanghai mid-board price will fluctuate next week.
This week, the price of thick plate in Guangzhou is weak, taking Shaosteel Q235B as an example, the mainstream weighing price is 4060 yuan/ton, and the rest such as Liugang, Baosteel, Angang weighing price 3960 yuan/ton, the price fell 20-100 yuan/ton from last week. In terms of the market, the plate fluctuates down, the market mentality is slightly weaker, and the trading performance of the medium and thick plate is not good, and the price of most merchants is slightly lower. In terms of resources, although the current stock of medium and thick plate has decreased slightly, but the pressure to storage still exists, coupled with the consumption contradiction is not reduced, businesses are still actively to the warehouse, it is understood that the current stock of medium and thick plate is about 204,000 tons, according to last week fell by 0.1 million tons. Overall, the short-term market continues to be mainly to the warehouse, superposition considering the downstream procurement is cautious, it is expected that the price of Guangdong thick plate next week or will still maintain a weak adjustment operation.
This week, the price of the Beijing-Tianjin-Hebei thick board fluctuated down, and the transaction was weak. As of press time, the local market 14-20mm board is currently quoted 3710-3860 yuan/ton. From the supply side, steel mill profits improved production enthusiasm increased, the Beijing-Tianjin-Hebei region of the board production line full production, high output shock operation. From the point of view of the demand side, the market has weakened again leading to the market’s cautious attitude towards the future market, the downstream terminal procurement enthusiasm is poor, the traders’ willingness to replenish the inventory is insufficient, and the operation of low price return funds at the end of the month is mainly. On the whole, the cost support is insufficient, the market confidence is insufficient, and it is expected that the price of the Beijing-Tianjin-Hebei medium and thick plate market will be weak and volatile next week.
Post time: Mar-31-2024