On August 23, the domestic steel market price mainly increased, and the delivery of
Tangshan billet remained stable at 4910 yuan / ton. Driven by the strength of the futures
market, the transaction of low-cost resources in the spot market today is OK, and the
enthusiasm of the downstream to take goods has increased. However, the steel market
as a whole is still in a state of weak supply and demand.
Cold rolled coil: on August 23, the average price of 1.0mm cold coil in 24 major cities in
China was 6487 yuan / ton, up 16 yuan / ton compared with the previous trading day.
Today's strong Futures Volatility and the relatively high settlement of steel mills have
stimulated many merchants to sell at a high price; The price difference between the north
and the South continued to narrow. In addition, the overall demand has not been
released, and the overall transaction is weak. In the downstream, the recent downstream
order receiving situation is general, the equipment has not been fully started, raw
materials are mostly purchased on demand, and there is still capital pressure.
It is expected that the spot price of domestic cold rolling will fluctuate in a narrow
range on the 24th.
Steel Scrap: on August 23, the scrap market price was weak, the scrap price of mainstream
steel mills was stable, and the scrap price of mainstream market was stable. The average
price of scrap steel in 45 major markets in China was 3272 yuan / ton, up 6 yuan / ton
compared with the price of the previous trading day. The preference of current price
performance in the finished product period has boosted the confidence in the scrap
market, and the market receiving price has been corrected to a certain extent.
However, due to the limited demand recovery of steel mills and the continuous decline
of ore prices, the upward trend of scrap prices is relatively weak, and the market is
difficult to be greatly improved. The scrap price is expected to be stable on the 24th.
Steel market forecast
In the futures market, the double focus limit has driven the rise of finished products,
and the mood in the spot market has improved.
In recent days, the overall trading atmosphere in the market is active, speculative
demand and downstream construction sites are actively entering the market for
procurement, and the price rises slightly after the turnover of merchants. However,
as the current spot is still in the weak situation of both supply and demand, it is still
necessary to pay close attention to the disturbance of supply side policies in the later
stage and the impact of local continuous rainfall weather on the demand side in the next
few days. It is expected that the steel price will continue to fluctuate strongly on the 24th.
Post time: Aug-24-2021