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Market price of hot rolled steel on July 21, 2020

On July 21, the average price of 4.75mm hot rolled steel plates and coils in 24 major cities across the country was 4095 yuan/ton, an increase of 7 yuan/ton from the previous trading day. Yesterday, the steel futures market fluctuated upward, and the spot market mentality was relatively optimistic, with merchants' quotations rising slightly. At present, market demand has not been significantly released, and terminals have basically purchased on-demand, and transactions have not significantly increased. However, the current market inventory resources are relatively small, and the sales pressure of merchants is not great. Coupled with the support of cost, the willingness to price is strong. However, after the previous continuous rise, the market fear of heights has increased, and the operation is still focused on shipments, and the room for price increases is limited. Hot rolled coil prices are expected to strengthen on July 22.
On July 21, the average price of 1.0mm cold rolled coils in 24 major cities was 4,445 yuan/ton, which was unchanged from the previous trading day. From a fundamental point of view, some mainstream specifications in the market are relatively in short supply recently, and traders are optimistic; from the perspective of inventory, merchants’ inventory is gradually digested, and the overall market inventory is at a relatively low level. The cold rolling market is expected to become stronger on July 22.
On July 21, the average price of 20mm plain steel plates and sheets in 24 major cities across the country was 4035 yuan/ton, an increase of 3 yuan/ton from the previous trading day. Yesterday, the black futures closed up, and some markets slightly increased by 10 yuan/ton in the afternoon. The downstream wait-and-see customer inquiries increased, and the transaction improved. In terms of inventory, the recent arrival of new resources is relatively small, mainly due to high ordering costs, weakened purchasing enthusiasm of merchants, and steel mills focusing on fast production, resulting in a shortage of some specifications. On the whole, the market has a strong wait-and-see sentiment. The ex-factory prices of steel mills are firm, and some resources are in short supply. It is expected that domestic plate prices will strengthen on July 22.
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