On February 14, the domestic steel market price fell, and the ex-factory price of Tangshan common billet was stable at 4,700 yuan/ton.（$746/ton）
Recently, many departments and institutions, including the National Development and Reform Commission, the State Administration of Market Supervision, and the China Iron and Steel Association, have proposed to strengthen market supervision and ensure the stable operation of the iron ore market. Recently, the iron ore and steel futures markets rose and then fell, and steel prices adjusted accordingly.
Steel spot market
Construction steel: On February 14, the average price of 20mm grade 3 seismic rebar in 31 major cities across the country was 5,010 yuan/ton($795/ton), down 22 yuan/ton($3.5/ton) from the previous trading day.
Hot-rolled coil: On February 14, the average price of 4.75mm hot-rolled coil in 24 major cities in China was 5,073 yuan/ton($805/ton), down 52 yuan/ton($8.3/ton) from the previous trading day.
Cold-rolled coil: On February 14, the average price of 1.0mm cold coil in 24 major cities in China was 5,611 yuan/ton($890/ton), down 9 yuan/ton($1.4/ton) from the previous trading day.
Raw material spot market
Imported ore: On February 14, the spot price of imported iron ore fluctuated downward, and the market transaction was weak.
Coke: On February 14, the coke market was weak and stable.
Scrap steel: On February 14, the average price of scrap steel in 45 major markets across the country was 3,216 yuan/ton($510/ton), an increase of 10 yuan/ton($1.6/ton) from the previous trading day
Steel market supply and demand
In the second half of February, downstream construction will start successively, and demand will continue to recover. Supply is subject to environmental protection and production restrictions. The pressure on the supply and demand side of the steel market is acceptable. However, the price of raw materials and fuel fluctuates sharply, causing a cautious attitude in the market. In view of the suspicion of excessive speculation in the raw and fuel market, the price of iron ore futures has recently risen and then fell, and the price of steel futures has weakened. Short-term steel prices may show a reasonable adjustment after rising too fast.
Post time: Feb-15-2022