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The price of steel bar may rise in the future

Xinhua News Agency, Shanghai, September 24 (Reporter Li Rong) Due to the continuous decline in the market inventory level, the replenishment before the festival has formed a certain pulling force, domestic spot steel prices have increased slightly. The import price of ore is fluctuating slightly, and the port stock level is still at a high level.

According to the latest market report provided by China's steel information agency "My Steel", the domestic spot steel price composite index closed at 163.53 points in the last trading week before the festival, rising 0.23% a week. Black series futures market rose first and then restrained, spot steel market trend among different varieties of differentiation, the market as a whole, although not very prominent, but pre-festival replenishment is still a certain driving force.

According to the analysis, in the construction steel market, the price rose slightly. The average price of the main specifications of the rebar in the main market of the country is 4620 yuan per ton, up 40 yuan a week. According to the market situation one day before the Mid-Autumn Festival, the enthusiasm of some end-users to replenish the warehouse has increased, and the market turnover has improved slightly. However, as a "front-end factor" in steel prices, billet prices have been revised back after the rise, from which we can see that the overall market mentality is still cautious.

In the plate market, prices are generally slightly downward. The price of hot-rolled coil dropped slightly, and the average price of hot-rolled products with mainstream specifications in the main market of China was 4,342 yuan per ton, down 15 yuan a week. Medium and heavy plate prices fell slightly, the average price of the mainstream specifications of the main market in China was 4,474 yuan per ton, down 24 yuan a week. At present, the social inventory of steel continues to decline, indicating that market demand is acceptable. Steel mills in the inventory is low, the quotation can remain stable, which makes the market in the high cost of arrival, market prices continue to maintain a certain degree of support.

The import iron ore market showed a slight fluctuation. According to the latest report of the Shinkansen Line in Xiben, the price of 62% grade imported powder ore is still at a standstill at $69 per ton. Although inquiries for replenishment of steel plants before the festival have increased, they are still mainly purchased in small batches. The overall volume of transactions is small and the price increase is insufficient. Iron ore port stocks remain high, and the late mining market is still hard to get rid of the weak pattern.

Relevant institutions believe that the steel market's traditional "Jinjiu" peak season demand has not yet substantive start, but the steel plant inventory pressure is not large, the market mentality is relatively stable.
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