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Hot rolled coil Cold rolled sheet News
SunSirs: Near the End of the Year, Steel Had Price But No Market (January 9-16)
January 18 2023 11:10:17SunSirs(John)

Price trend

As of the 16th, the average price of domestic hot rolled coil market was 4,246 RMB/ton; The average market price of Cold rolled sheet was 4,516.67 RMB/ton. The hot roll market as a whole shocked to be stronger, and with strong expectations and cost-side price support, which made the spot prices of traders be firm. However, with the arrival of the Spring Festival holiday, many businesses were closed for the New Year, so the rise and fall of spot prices had little significance.

According to the weekly rise and fall chart of SunSirs, the nickel price rose by 7 weeks and fell by 5 weeks in the past 12 weeks, and the price fell back after the recent strength of the nickel price.

Reasons for affecting the market price of steel

Inventory

According to the latest data learned by SunSirs, the social inventory of hot rolled coil this week was 2.2865 million tons, an increase of 15.56 million tons over the previous week, and the weekly output was 2.9704 million tons, a decrease of 407 million tons from the previous week; The social inventory of cold rolled sheet this week was 1.2636 million tons, an increase of 45,000 tons compared with last week, and the weekly output was 786,500 tons, a decrease of 5,400 tons compared with last week.

From the data point of view, the inventory of hot rolled coil and cold rolled sheet continued to accumulate, mainly because the market entered the holiday mode, the demand was weak, and some winter storage traders actively replenished the inventory, driving the inventory increase.

Raw materials

On January 13, the National Development and Reform Commission issued a notice of the meeting again to pay attention to the changes in iron ore prices. This is the second time since January that the National Development and Reform Commission issued a document "suppressing iron ore". With the iron ore price control and the second round of coke price rise and fall, but the overall price was strong and unchanged, for the production losses of coking enterprises, it is planned to limit production to protect the price.

Market outlook

The macro expectation of the Spring Festival is good. Under the situation of high cost, low production and low inventory of steel, the overall market of steel market fluctuated slightly. The downstream entered the vacation mode, the market transaction basically stagnated, and the iron ore fell under pressure. It is expected that the steel price will remain stable before the holiday.

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