According to "My Steel" monitoring, in the past week, the average price of domestic steel tonnage fell by about 20 yuan. The specific market trend of all major steel products is: the overall spot price of construction steel fell, among which the mainstream markets such as Shanghai, Beijing, Hangzhou and Wuhan experienced the largest drop, dropping by around RMB 60 per tonne; the prices of plate fell slightly, and the largest decline occurred in Beijing. The market fell by 30 yuan per ton; the tonnage of hot-rolled products dropped by 30 yuan, the drop in cold-rolled products was within 10 yuan per ton, and the price of large and medium-sized profiles was low.
According to the analysis, the spot price of construction steel declined by a small margin. In the first week, a total of 9 rebar manufacturers and 10 wire rod manufacturers adjusted the ex-factory price, and the number of steel mills that adjusted prices remained low. It is worth noting that the current demand for steel in the real estate industry has remained strong. The investment in real estate development completed in the country in the first 11 months of this year has increased by more than 17% year-on-year. After the coal prices continued to rise in the past few weeks, domestic coke prices have also risen recently. In the latter half of November, the average daily output of crude steel in the country reached 1,671,300 tons, which remained at a high level. The increase in production of steel plants continued; at the same time, the construction steel market entered an off-season demand and the related inventory was still increasing. Taking these factors into consideration, it is expected that the construction steel price will generally fluctuate in the low-priced region in the next step, but the rate will not be too great.
It is worth noting that the current strong growth momentum of the domestic auto market is continuing. In the first 11 months of this year, the domestic automobile sales have exceeded 12.2 million, which is a great advantage for the automotive steel market. It is estimated that the domestic market price of hot and cold rolled products will be at a consolidation stage, and there will be room for upswing, but not too much.
Domestic steel prices fell slightly overall
According to the latest market report provided by the well-known steel and information agency “My Steelâ€, in the past week, domestic steel prices have dropped slightly, and construction steel and hot-rolled products have become the “main force†for the decline in prices. However, most market participants believe that this round of price decline is limited. At present, there is a strong wait-and-see attitude on the market, and most businesses show a kind of “frustration†with the current market conditions.