March 17, 2022 Steel Market Morning Report
【Construction steel】
On the 16th, the market price of building materials rose slightly. The average price of rebar in major cities was 5,193 yuan/ton, up 13 yuan/ton from the previous trading day. The futures thread fluctuated and rose sharply. The closing price of the main contract was 5,104 yuan/ton, an increase of 153 yuan/ton from the settlement price of the previous working day, and a discount of 50 yuan/ton compared to the Hangzhou Zhongtian thread market price of 5,140 yuan/ton. During the night session, the snail fluctuated upwards, and the market sentiment improved. In the morning, the market price of building materials in East China was stable and slightly increased by 10 yuan / ton. Boosted by macro data during the session, the black futures collectively rose, driving the market’s bullish enthusiasm, and the spot gains expanded. In the afternoon, the willingness of intermediaries to enter the market increased, and the transaction improved, with a cumulative increase of 30-50 yuan/ton throughout the day. The recent epidemic situation is more severe, many construction sites are temporarily suspended, and the demand side has been affected to a certain extent. Recently, the transaction has always been unsatisfactory, and the stamina to push up prices is insufficient. At this stage, merchants are generally cautious. It is expected that the quotations of building materials market will rise mainly due to fluctuations tomorrow.
【Hot rolled coil】
On the 16th, the hot-rolled spot price rebounded after a turnaround. The average price in major cities across the country was 5,692 yuan / ton, up 34 weeks from the 15th, down 119 from the previous month. Shanghai 5020-5030 yuan/ton rose 40 from the 15th, down 100 from last week, Lecong 5670-5690 yuan/ton rose 80 from the 15th, and fell 90 from last week. Tianjin 5620-5630 rose 70 from the 15th and fell 110 from last week. On the 16th, the hot-rolled futures opened higher and moved higher, closing at 5680, up 148, or 3.00%. Yangang’s bidding price rose 40%. The spot price of Rizhao Steel was temporarily stable. Today’s speeches by economic authorities encouraged and stabilized the confidence of the market, making everyone believe that the policy will be beneficial in the later period, optimistic about the demand and price in the later period, and the short-term price will rebound.
【Cold rolled coil】
On the 16th, the average price of cold-rolled sheets in major cities across the country was 6,160 yuan/ton, down 1 yuan/ton from yesterday and 93 yuan/ton from the same period last week. The market price of cold rolling is consolidating. Among them, the market price of Anshan Iron and Steel 1.0 cold coil in Shanghai is 6100 yuan / ton, up 10 yuan / ton; Tianjin Tiantie 1.0 cold coil is 6190 yuan / ton, down 40 yuan / ton; Lecong Liugang 1.0 Cold rolls are 6160 yuan/ton, up 20 yuan/ton. The trend of futures fluctuated and strengthened, and the price of cold rolled market in mainstream cities rose slightly, with a drop of 20-30 yuan/ton. The downstream terminal purchase was slightly active, and the market transaction was acceptable. The Financial Stability and Development Committee of the State Council held a special meeting. The meeting emphasized the positive news of actively introducing policies that are favorable to the market and firmly supporting the development of the real economy. Merchants are more cautious, which is conducive to the normal release of the demand side, indicating that the increase is limited. It is expected that the short-term market price will increase slightly.
【Coating】
On the 16th, the national market price of coated sheet fluctuated within a narrow range. The average price of 1.0mm flowerless galvanized sheet in major cities was 6,189 yuan (ton price, the same below), down 8 yuan compared with the previous day; The price is 6153 yuan, down 6 yuan compared with the previous day; the average price of 0.47mm color-coated boards in major cities is 7267 yuan, up 5 yuan compared with the previous day. Today, the black futures performed a counterattack, and the spot market regained confidence. The quotations of coating in the first- and second-tier markets rebounded significantly, while the prices in the third- and fourth-tier markets compensated for the slight decline, and the transaction picked up. A few days ago, the epidemic situation in some parts of the country was severe, and many construction sites were temporarily suspended, which affected the demand side to a certain extent. Driven by the disk, it is expected that the market price of coated sheet will fluctuate strongly tomorrow. Today, the galvanized ex-factory prices of private steel mills in the north have stabilized as a whole, with some slight increases. The ex-factory price of Hebei cold-rolled base material factory remained at 6,150-6,200 yuan/ton.
【Seamless tube】
On the 16th, the domestic market price of seamless pipes remained strong, and the transaction was average. At present, the market price of 108*4.5 seamless pipes in 33 cities is 6101 yuan/ton, an increase of 1 yuan/ton compared with the previous trading day. Today, the factory price of some seamless pipes in Linyi, Shandong is stable. Now the factory is 6,950 yuan/ton for one-time cold-drawn pipes, 5,980-6,500 yuan/ton for hot-rolled pipes, and 5,900 yuan/ton for Liaocheng thick-walled pipes. Most of the Shandong pipe factories are producing normally. At present, the pressure on the inventory of the pipe factories is not large, and there are few transactions of high-priced resources, and more pre-orders are issued. Due to the impact of the epidemic in Cangzhou, production is temporarily normal, but transportation is suspended, and both purchases and shipments are restricted. In the short term, Cangzhou market inventory may be slow to digest. At present, the market profit is not large, and the preferential space is limited. It is expected that the market price of seamless pipes will have a high chance of stable, medium and small decline tomorrow.
【Stainless steel】
On the 16th, the spot price of stainless steel was adjusted within a narrow range. Wuxi market: the quotation of 304 cold-rolled Taigang was 25,400 yuan/ton, which was stable compared with the previous trading day; the quotation of Hongwang Resources was 13,000 yuan/ton, which was up 200 yuan/ton compared with the previous trading day; the quotation of 304 hot-rolling was 21,600 yuan/ton, up 150 yuan/ton from the previous trading day. In terms of 200 series: At present, the mainstream of J1 four-foot cold-rolled resources is 15,100-15,400 yuan/ton for burrs, J2J5 resources go to 12,500-12,800 yuan/ton for burrs, and four-to-five-foot hot-rolled resources reach 12,600-13,400 yuan for burrs. /Ton. Traders are flexible to adjust. In general, the spot market is stable and adjusted today, and the epidemic control in some areas has brought logistics disruption; on the other hand, due to the surge in futures, some merchants have raised individual specifications, and short-term major markets have flexibly adjusted and operated.
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