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steel market
[Construction Steel] On the 12th, the market price of construction steel fluctuated and fell. The average price of rebar in major cities was 3,828 yuan/ton, an increase of 4 yuan/ton from the previous trading day. The snail futures fluctuated and fell, and the closing price of the main contract 2310 was 3652 yuan/ton, an increase of 23 yuan/ton from the settlement price of the previous working day, and a discount of 108 yuan/ton compared to the market price of 3760 yuan/ton in Hangzhou Zhongtian thread. When the market opened in the morning, the quotations of construction steel in most parts of the country were mainly stable. In the late opening period, the snail fluctuated downward, and the market’s bullish enthusiasm narrowed. The transactions in the morning were mediocre, and merchants in some areas loosened prices slightly in order to ship goods. In the afternoon, the transaction still did not improve, and merchants’ sentiment of lowering prices and shipments became stronger, and the decline in some areas was enlarged. At present, the signs of seasonal weakening of demand are becoming more and more obvious. In the absence of transaction cooperation, short-term market fluctuations are all influenced by futures exchanges. It is expected that the national construction steel price will fluctuate slightly tomorrow.
[Hot-rolled coils] On the 12th, the spot price of hot-rolled coils rose and fell in various places, and the overall price was the same as that of the previous working day. The average price in major cities across the country is 3,850 yuan/ton, down 10 yuan per ton compared with the same period last week. Shanghai’s 3830-3850 yuan/ton is down 10 yuan per ton from the 9th, down 40 yuan per ton from the same period last week, and Lecong’s 3820-3830 yuan/ton is down 20 yuan per ton from the 9th, down 20 yuan per ton from the same period last week 10 yuan. Tianjin 3770-3790 yuan / ton, down 30 yuan per ton from the 9th, down 30 yuan per ton from the same period last week. On the 12th, the hot-rolled futures opened low and moved low within the day, closing at 3,763 yuan/ton, down 60 or 1.57% from the previous month. Yangang’s bidding price today dropped 50 yuan per ton compared with the previous working day. The spot price of Rizhao Steel was stable compared with the 9th. Today’s billet quotation is 3510 yuan/ton lower than that on the 11th. Today, spot prices in many places fell in the afternoon, and spot transactions were significantly affected by the decline, and short-term price fluctuations may still be weak.
[Cold-rolled coils] On the 12th, the average price of cold-rolled coils in major cities across the country was 4,581 yuan/ton, which was the same as the previous working day, and 21 yuan/ton higher than the same period last week. Among them, the market price of Angang 1.0 cold coil in Shanghai is 4,400 yuan/ton, stable; Tianjin Tiantie 1.0 cold coil is 4,340 yuan/ton, stable; Lecong Liuzhou Iron and Steel 1.0 cold coil is 4,500 yuan/ton, stable. The cold-rolled spot market price is weak and stable, the downstream terminal purchases are more wait-and-see, and the overall market transaction performance is not good. Merchants maintain low inventory and demand release weakens. It is expected that short-term fluctuations in a narrow range will be weak.
