On the market
Today, the national steel price was reduced steadily, including Shanghai rebar price was reduced by 100 yuan/ton, Hangzhou rebar price was reduced by 100 yuan/ton, Wuhan rebar price was reduced by 80 yuan/ton, the national average price of rebar in 27 cities was 5125 yuan/ton, 30 yuan/ton lower than the last trading day, the national average price of hot rolled coil in 27 cities was 5559 yuan/ton, 81 yuan/ton lower than the last trading day. The average price of medium plate in 27 cities nationwide was RMB 5628 per ton, down RMB 57 per ton from the previous trading day.
Today’s Tangshan billet direct delivery is average, with spot prices in the billet market reported at around 4,950 in the morning, with a few transactions. In the afternoon, the market was boosted by steel futures and pulled up sharply by about 130-150, now quoted at 5080-5100, with active trading.
Steel mill price adjustment
Today, the national mainstream steel mills slightly lowered their prices, with China lowering 550 yuan/ton, Lian Steel lowering 70 yuan/ton and Cold Steel (Changsha) lowering 50 yuan/ton.
May steel PMI shows: steel prices fluctuate sharply market supply and demand growth rate divergence
From the steel industry PMI surveyed and released by the Steel Logistics Professional Committee of China Federation of Materials, 46.1% in May, up 0.7 percentage points from the previous month. Sub-indexes show that the month of raw materials and steel prices fluctuated sharply, steel production increased, market demand slowed down, steel mills to warehouse speed decreased. It is expected that in June, steel prices remain slightly oscillating, market demand continues to be under pressure, the steel mill production growth rate slowed.
Commentary on the front page of the Senate: stabilize commodity prices to support the development of small and micro enterprises
Measures need to be taken to increase the supply of commodities, solve the mismatch between supply and demand, and stabilize commodity prices, so that micro and small enterprises can get better development and promote better economic development. First, rely on market-based approaches to stabilize the supply and demand of commodities. Second, use management tools to combat commodity speculation. Third, we should actively guide the expectations of various actors on commodity prices. Finally, to create a more friendly environment for the survival and development of micro and small enterprises, and indirectly reduce the adverse impact of commodity price increases on the operation of micro and small enterprises.
Steel market overview
Due to the weekend market price increases, yesterday the market price more to make up the main. Today’s morning futures weakened sharply, spot market prices fell significantly.
Transaction, the market high resources transaction performance is weak, businessmen are cautious mentality, basically to ship. At present, the market supply and demand side gradually weakened, the peak season demand effect gradually weakened, the price rise has a certain pressure, is expected to the recent building materials market will be weak consolidation.
Post time: Jun-04-2021