The hottest steel market diving Shagang constructi

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According to reports, Shagang, the leading steel plant in East China, issued a factory price policy for construction steel in late July on the 21st. Rebar and wire rod were significantly reduced on the basis of the middle of July, with a reduction of yuan/ton

among them, the price of deformed steel bar in the latter ten days will be reduced by 150 yuan/ton, and that of wire rod and spiral rod will be reduced by 200 yuan/ton. At the same time, it is reported that Shagang will also make up for the price of 150 yuan/ton in the middle of the year. Previously, Shagang reduced the price of deformed steel bars by 30 yuan/ton and 70 yuan/ton in the first ten days and the middle ten days respectively. So far, Shagang reduced the ex factory price of construction steel for three consecutive ten days in July, and the decline continued to expand. After the price reduction, the ex factory price of mmhrb335 deformed steel bar is 3800 yuan/ton. Mmhrb can achieve high-quality surface, small batch, high flexibility and low unit cost at the same time. The ex factory price of 400 deformed steel bar is 3920 yuan/ton, which is still higher than the market price. According to my steel price monitoring data, by the 20th, the hrb33520mm deformed steel bars in the leading market in East China were less than 3800 yuan/ton, 3640 yuan/ton, 3710 yuan/ton and 3760 yuan/ton in Shanghai, Hangzhou and Nanjing respectively; Hrb40020mm deformed steel bars are also lower than 3900 yuan/ton

after entering July, the decline in domestic steel prices has intensified significantly, especially last week, rebar, hot rolled coil and other leading varieties showed a diving decline. According to my steel price monitoring data, as of the 20th, the average price of hrb40020mm deformed steel bars in 25 major markets in China was 3980 yuan/ton, with a cumulative weekly decline of 118 yuan/ton, of which East China led the decline, with Shanghai, Hangzhou and Nanjing markets falling 150 yuan/ton, 110 yuan/ton and 160 yuan/ton respectively

July is the traditional off-season for domestic steel market consumption. Coupled with the slowdown of domestic economic growth this year, the demand performance is more sluggish, but on the other hand, the domestic steel supply pressure remains unabated. According to the National Bureau of statistics, the average daily output of crude steel in June was still as high as 2.007 million tons, the second highest level in history. My steel inventory data also showed that as of the 20th, the national rebar inventory had reached 6.7078 million tons, only 15000 tons lower than last week, and 1.38 million tons higher than the method of analyzing the iron content in lubricating oil in the same period last year. The contradiction between supply and demand in the short-term market is still prominent, and after the sharp decline in prices, market confidence has suffered a setback, and the price situation is still difficult to be optimistic

(source of this article: Steel Union Information)

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