Price trend:
Last week, the overall price of mild steel plates remained weak. According to the commodity market analysis system of SunSirs, the price of ordinary medium plates (material: Q235B; specification: 20) was 3,262 RMB/ton on November 21, unchanged from last Monday.
Influencing factors
Steel billet market: Domestic steel billet prices remained weak last week. As of November 21, the price of ordinary square billet in Tangshan was 2,950 RMB/ton (including tax). Downstream demand slowed, and overall transactions were weak.
On the demand side, end-user procurement largely continued the pattern of small-volume, frequent purchases, making it difficult to generate a concentrated procurement surge, resulting in overall lackluster demand. As of November 20, the consumption of mild steel plates was 1.6482 million tons, an increase of 75,500 tons from the previous week, representing a month-on-month increase of 0.18%.
Regarding inventory, the inventory situation showed regional differentiation during the week. Major distribution cities saw slight inventory accumulation due to increased steel mill supply and slower end-user consumption. Surrounding cities experienced limited resource inflows, and downstream demand generally showed a slight inventory reduction trend. As of November 20th, the total social inventory of mild steel plate in 65 cities nationwide was 2.4771 million tons, a decrease of 6,200 tons from the previous week. Regionally, the Northwest region saw the largest decrease last week, at 9,100 tons.
Market outlook
Last week's temperature fluctuated wildly, prompting construction sites in the north to rush to complete projects while construction in the south continued as normal, resulting in an increase in apparent demand compared to the previous week. Most merchants had low inventory levels, and some lacked complete specifications of available products, leading to narrow fluctuations in the spot market. It is expected that the domestic mild steel plate market will continue its slight fluctuation trend next week.
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