[Construction Steel] The domestic construction steel market fluctuated and rose this week. The average price of rebar in major cities was RMB 4,268/t, up RMB 26/t from last Friday. The closing price of the main rebar futures contract this week was 4,150 yuan/ton, an increase of 114 yuan/ton from last Friday's closing price, and a discount of 100 yuan/ton compared to the Hangzhou Zhongtian thread market price of 4,250 yuan/ton. At present, under the situation of low output, low inventory and weak demand, the first round of coke increase of 200 yuan/ton has been implemented one after another. Three steel mills in Jiangsu issued a new phase of building materials price policy, mainly stable. Once demand improves, domestic construction steel prices are expected to stabilize. Due to the lack of arrival resources and the increase in the market's tight specifications, some merchants have certain concerns about the recovery of steel mills' output, and the pressure of destocking is reduced, and merchants are not willing to continue to take the initiative to ship at low prices. Near the weekend, the terminal stocking demand has also been released, and the overall transaction has improved compared with yesterday. It is expected that the quotations in the construction steel market will fluctuate and become stronger in the near future.
[Hot-rolled coil] This week, the spot price of hot-rolled coil fluctuated and rose, and the overall month-on-month increase was slightly higher than that of last Friday. As of August 12, Shanghai 4040-4060 yuan / ton, up 60 from last Friday. Lecong's 4070-4080 yuan rose 60 yuan from the same five; Tianjin 4020-4040 rose 20 yuan from last Friday. This week, the hot-rolled spot made a small correction for three consecutive days from Tuesday to Thursday after a sharp rise on Monday. After rebounding again on Friday, it generally showed a small increase. This week's output increased slightly by 7,300 tons, total inventory decreased by 12,200 tons, and table demand decreased by 28,000 tons. Judging from the monthly output survey data, the output will continue to decline in the later period, and the short-term profit recovery will not have the effect of stimulating production increase at the monthly plan level, especially in North China. During the same period, the demand for hot-rolled rolling is still in a quarterly weak state, which is obviously weaker than that of threading, but prices are supported by the continued low decline in production, and prices may gain an upward impetus next week.
[Cold-rolled coil] The price of the cold-rolled market fluctuated slightly this week. The average daily price of cold-rolled sheet in key cities in China was 4,697 yuan/ton, up 24 yuan/ton on a week-on-week basis, and down 131 yuan/ton on a month-on-month basis. Among them, the market price of Anshan Iron and Steel 1.0 cold coil in Shanghai is 4400 yuan/ton, up 20 yuan/ton from last week; Tianjin Tiantie 1.0 cold coil is 4510 yuan/ton, up 50 yuan/ton from last week; Lecong Liugang 1.0 cold coil Volume 4470 yuan / ton, a week-on-week increase of 70 yuan / ton. 5.5 The mainstream of hot and cold coils remained at 4050 yuan/ton, up 60 yuan/ton from last week; the price difference between hot and cold products was around 350 yuan/ton, narrowed by 40 yuan/ton. This week, futures fluctuated upwards, with loose funds and policies to stimulate consumption. Expectations on the raw material side were strong. With low production, inventories fell, and specifications were bound to be in short supply (building materials), driving prices up and market confidence restored. The cold rolling price adjustment of mainstream steel mills in September was -200-0 yuan / ton, and there was a small amount of replenishment on the demand side. This week's inventory statistics, the inventory statistics data fell again, the demand is in weak improvement, so far, the merchants are cautious, and the shipment is mainly. It is expected that the market price will be adjusted within a narrow range next week, and the rise will be slightly weak. Pay attention to the rhythm of heavy demand.
【Coating】This week, the price of the national coated sheet market fell weakly. As of the 12th, the average price of 1.0mm galvanized sheet in major cities was 5,079 yuan (ton price, the same below), down 91 yuan compared with the previous week; the average price of 0.3mm galvanized sheet in major cities was 4,934 yuan, which was similar to the previous week. The average price of 0.47mm color-coated boards in major cities was 6,273 yuan, down 32 yuan compared with the previous week. Although the black futures fluctuated strongly this week, and the prices of key products such as coils and hot coils rebounded significantly, the coated sheet market remained weak. On the one hand, the market demand is still relatively weak, with the continued high temperature in many places in the south, and repeated epidemics in some areas, which hindered outdoor construction activities. On the other hand, Baosteel, the "wind vane", lowered the price policy of coated products in September, and the strategy of exchanging price for volume is obvious, and market expectations are cautious. On the supply side, with the recovery of profits of steel companies, the operating rate of steel mills has increased significantly. As of August 12, the operating rates of galvanizing and color coating were 82% and 73%, respectively, up 4% and 5% from last week. The inventory of galvanized sheet coils in major cities across the country totaled 1,225,700 tons, an increase of 15,200 tons from the previous week; the total inventory of color coatings was 281,400 tons, a decrease of 4,900 tons from the previous week. The logic of resumption of production by steel mills is gradually being realized, which is good for upstream raw materials. However, it is still a traditional low season for demand. Under the constraints of high temperature, it is difficult for the demand side to see significant increase in volume. It is expected that the domestic coated sheet market will fluctuate mainly next week.
[Seamless pipe] The market price of seamless pipes fell in a narrow range this week, and the decline was significantly narrowed. Now the average market price of 108*4.5 seamless pipes in 33 cities is 5,461 yuan/ton, down 3 yuan/ton from the same period last week. The overall market transaction is normal. Steel mill price: The national ex-factory price of seamless pipes is weak and stable. Currently, the ex-factory price of cold-drawn pipes in Linyi, Shandong is 5,500 yuan/ton, and the ex-factory hot-rolled pipes are 4,900-5,150 yuan/ton. Liaocheng thick-walled pipe 219*10 seamless pipe factory 4780 yuan / ton. This week, the price of bulk steel has risen, the enthusiasm of pipe factories to purchase has increased, and the inventory of raw materials of pipe factories has increased. At present, the price difference between billet and steel pipe is about RMB 880/ton, which is basically the same as last week. From this point of view, the theoretical profit of the current pipe factory is acceptable, and the operating rate of the pipe factory may have room to increase in the later stage. In terms of seamless pipe supply: this week, the output of seamless pipes was 317,300 tons, an increase of 21,700 tons compared with the same period last week, and an increase of 51,400 tons compared with the same period last month; the capacity utilization rate was 68.95%, an increase of 4.71% compared with the same period last week. The operating rate of seamless pipe production enterprises was 63.11%, an increase of 3.28% over the same period last week, and an increase of 6.56% over the same period last month; the in-plant inventory was 645,200 tons, a decrease of 10,600 tons compared with the same period last week. The month-on-month decrease was 66,000 tons. In terms of demand for seamless pipes: as of August 12, the weekly inventory of seamless pipes in the market was 700,800 tons, a decrease of 3,200 tons from the same period last week and a decrease of 30,500 tons from the same period last month. This week, steel prices were generally stable and rising, and the market price of raw materials also increased significantly, which stimulated the purchasing demand of downstream terminals. It is expected that the market price of seamless pipes may rise slightly next week.
[Stainless steel] The spot price of stainless steel continued to decline this week. As of August 12, the Wuxi market: 304 cold-rolled Taigang was quoted at 17,000 yuan/ton, a week-on-week decrease of 200 yuan/ton; Hongwang 2.0 resource price was 15,900 yuan Yuan/ton, down 450 yuan/ton week-on-week; 304 hot-rolled 3.0 was quoted at 15,900 yuan/ton, down 100 yuan/ton week-on-week. In terms of 200 series: the market transaction performance was average this week, and the transaction was hindered due to the shortage of stock, but there is still no shortage of low-cost shipments in the market. At present, the price of J2/J5 cold-rolled flat plate has reached 8,600 yuan / ton, and some merchants are rolling the plate. The price went to 8700 yuan / ton. In terms of 400 series, some resources of 430 cold rolling continued to decline this week. In view of the high production loss, the Northwest Steel Plant’s 400-series production was halved in July to only about 40,000 tons, and the 400-series production plan was still halved in August. A steel plant in East China switched to ordinary carbon steel from July to August. Others The 400-series steel mills also have low output due to cost pressures, which relieves the pressure of high inventory levels. The price of Tsingshan was announced at the beginning of the week, with a sharp reduction of 700 yuan/ton; in terms of market resources, the South China steel mills received Indonesian resources in batches, and the market became more worried about the market outlook. Affected by the high temperature, Wuxi has also begun to take relevant measures to limit the orderly staggered power consumption of enterprises. Some processing plants are affected by this and adjust their working hours, which may have a partial impact on processing and delivery of goods, but the overall impact is not large at present. In some areas, there was rain due to typhoon weather, which also affected shipments and transactions to a certain extent. In terms of high-nickel iron: this week, the purchase price of Indonesian high-nickel iron from a steel mill in South China is 1265 yuan/nickel (tax included at the factory), and the transaction volume is nearly 10,000 tons due to be delivered in September. Comprehensive forecast: The current price of ferronickel and ferrochromium is weakening, the supply of 300 series has increased, and the output of 200 series and 400 series has been reduced, but the transaction is slow, and the short-term price will still be lower.
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