Yesterday's demand for steel remained weak, and trading activity was lackluster. However, merchants were influenced by the new round of policies from steel mills, which led to a more cautious market sentiment.
Recently, domestic steel prices have shown a fluctuating trend. As of yesterday, the lowest price for 20mm third-grade thread in North China reached 3,440 yuan/ton, while in East China, markets such as Nanjing and Jinan saw a slight drop to 3,430 yuan/ton. In North China, the lowest price for 20mm general plate in Shijiazhuang was 3,450 yuan/ton, whereas in Jinan, East China, the same specification was quoted at 3,530 yuan/ton. Compared to the previous trading day, prices fell by 3 yuan/ton. The average price of 20mm plates in mainstream markets stood at 3,645 yuan/ton, down by 2 yuan/ton. Meanwhile, the average price of 4.75mm hot-rolled coils was 3,625 yuan/ton, up by 1 yuan/ton. The average price of 5# angle steel in mainstream markets was 3,577 yuan/ton, a decrease of 3 yuan/ton compared to the previous day.
News: The central bank has been conducting reverse repurchase operations to stabilize liquidity, and this approach has become a consensus among market participants. The continued reverse repo operations, with higher interest rates, have made the central bank’s intention to maintain stability clearer. After resuming a 17 billion yuan reverse repo on Tuesday, the scale was significantly larger than before. Insiders suggest that monetary policy is showing a clear intent to maintain stability. Although the high winning bid rate in reverse repos indicates moderate fine-tuning of open market operations, the signal from the restart of these operations has helped stabilize funds. As a result, fund prices fell across the board yesterday.
On the cost side, the price of 150mm billets in Tangshan stabilized at 3,070 yuan/ton this morning. Additionally, several major manufacturers, including Shagang, Hegang, Shanghai Shente, Shanxi Liheng, Yonggang, and Baotong Steel, raised their ex-factory prices for building materials by 20–60 yuan/ton. In contrast, companies like Chengdu Chengshi, Xinfu Steel, Shanyuewang, Siping Modern, Shiheng Special Steel, Laigang Yongfeng, Jigang Wuyuan, and 2672 Factory reduced their ex-factory prices for building materials by 20–50 yuan/ton. Xicheng Steel also cut its medium plate prices by 60 yuan/ton. Overall, the first-tier manufacturers are still maintaining prices above those seen in early August, but some second- and third-tier factories have slightly lowered their prices.
In futures trading, the main contract for rebar (Rb1401) opened higher and then fell, starting at 3,655 yuan and reaching 3,647 yuan. Early morning price adjustments by Shagang pushed the market up slightly, but pressure near the 20-day moving average remained strong, leading to a sharp drop. It is expected that today’s rebar prices will continue to trade within a narrow range.
Overall, with the latest pricing adjustments from major manufacturers, the current trend for raw materials and steel products remains downward, and transaction volumes remain weak. However, under the current market psychology, steel prices may see short-term stabilization and a potential rebound. In the medium to long term, demand support will be crucial. It is expected that today’s market will enter a period of stable consolidation with slight strength. The average price of rebar in mainstream markets is expected to adjust by 0–10 yuan/ton, while the average price of 20mm plates will fluctuate between 3,640–3,650 yuan/ton.
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Recently, domestic steel prices have shown a fluctuating trend. As of yesterday, the lowest price for 20mm third-grade thread in North China reached 3,440 yuan/ton, while in East China, markets such as Nanjing and Jinan saw a slight drop to 3,430 yuan/ton. In North China, the lowest price for 20mm general plate in Shijiazhuang was 3,450 yuan/ton, whereas in Jinan, East China, the same specification was quoted at 3,530 yuan/ton. Compared to the previous trading day, prices fell by 3 yuan/ton. The average price of 20mm plates in mainstream markets stood at 3,645 yuan/ton, down by 2 yuan/ton. Meanwhile, the average price of 4.75mm hot-rolled coils was 3,625 yuan/ton, up by 1 yuan/ton. The average price of 5# angle steel in mainstream markets was 3,577 yuan/ton, a decrease of 3 yuan/ton compared to the previous day.
News: The central bank has been conducting reverse repurchase operations to stabilize liquidity, and this approach has become a consensus among market participants. The continued reverse repo operations, with higher interest rates, have made the central bank’s intention to maintain stability clearer. After resuming a 17 billion yuan reverse repo on Tuesday, the scale was significantly larger than before. Insiders suggest that monetary policy is showing a clear intent to maintain stability. Although the high winning bid rate in reverse repos indicates moderate fine-tuning of open market operations, the signal from the restart of these operations has helped stabilize funds. As a result, fund prices fell across the board yesterday.
On the cost side, the price of 150mm billets in Tangshan stabilized at 3,070 yuan/ton this morning. Additionally, several major manufacturers, including Shagang, Hegang, Shanghai Shente, Shanxi Liheng, Yonggang, and Baotong Steel, raised their ex-factory prices for building materials by 20–60 yuan/ton. In contrast, companies like Chengdu Chengshi, Xinfu Steel, Shanyuewang, Siping Modern, Shiheng Special Steel, Laigang Yongfeng, Jigang Wuyuan, and 2672 Factory reduced their ex-factory prices for building materials by 20–50 yuan/ton. Xicheng Steel also cut its medium plate prices by 60 yuan/ton. Overall, the first-tier manufacturers are still maintaining prices above those seen in early August, but some second- and third-tier factories have slightly lowered their prices.
In futures trading, the main contract for rebar (Rb1401) opened higher and then fell, starting at 3,655 yuan and reaching 3,647 yuan. Early morning price adjustments by Shagang pushed the market up slightly, but pressure near the 20-day moving average remained strong, leading to a sharp drop. It is expected that today’s rebar prices will continue to trade within a narrow range.
Overall, with the latest pricing adjustments from major manufacturers, the current trend for raw materials and steel products remains downward, and transaction volumes remain weak. However, under the current market psychology, steel prices may see short-term stabilization and a potential rebound. In the medium to long term, demand support will be crucial. It is expected that today’s market will enter a period of stable consolidation with slight strength. The average price of rebar in mainstream markets is expected to adjust by 0–10 yuan/ton, while the average price of 20mm plates will fluctuate between 3,640–3,650 yuan/ton.
Http://news.chinawj.com.cn Submission:
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