📊 Steel Spot and Futures Price Summary

On July 3rd, the domestic steel market rose, with the Tangshan Qian'an universal slab ex-factory tax-inclusive price increased by 40 to 3350 yuan/ton. In terms of transactions, driven by the rise in rebar futures, the spot prices in most cities continued to strengthen, with steel mills actively pushing for price increases and a significant increase in terminal and speculative demand.

On July 3rd, the closing price of the main rebar futures contract was 3619, up 1.49% from the previous trading day, with the DIF and DEA overlapping, and the RSI indicator ranging from 48 to 69, operating between the middle and upper tracks of the Bollinger Bands.

On July 3rd, five steel mills raised the ex-factory price of construction steel by 10-20 yuan/ton.

📈 Daily Price Quotes for Steel Grades

Rebar:

On July 3rd, the average price of 20mm Grade 3 earthquake-resistant rebar in 31 major cities across the country was 3656 yuan/ton, an increase of 19 yuan/ton from the previous trading day. Recently, the price of raw materials has been firm, providing some support to the spot market, and with the weather improving in many provinces after the rainy season, there has been a marginal improvement in demand. Thanks to the rise in rebar futures, the current market sentiment is more optimistic, and it is expected that the price of construction steel may continue to be mainly strong on the 4th.

Hot-rolled Coil:

On July 3rd, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 3749 yuan/ton, an increase of 11 yuan/ton from the previous trading day. The market is currently in a traditional off-season, and there is no significant improvement in downstream rigid demand for procurement, but the cost-end support remains, and the short-term price is expected to maintain the current situation. Overall, there are still macroeconomic favorable expectations, and it is expected that the price of hot-rolled coil may remain stable on the 4th.

Cold-rolled Coil:

On July 3rd, the average price of 1.0mm cold coil in 24 major cities across the country was 4205 yuan/ton, a decrease of 4 yuan/ton from the previous trading day. Terminal customers are cautious in purchasing plans, mainly based on rigid demand. According to feedback from traders in North China, under the condition of weak demand and high inventory, orders have been reduced to reduce the risk and lower the capital pressure, and the main operation is to reduce prices to sell and recover funds, and to be cautious about the market outlook. There is still pressure on inventory, and demand has not been effectively released. Overall, it is expected that the price of cold-rolled coil may be mainly in a narrow range of shock adjustment on the 4th.

Medium Plate:

On July 3rd, the average price of 20mm general plates in 24 major cities across the country was 3770 yuan/ton, an increase of 1 yuan/ton from the previous trading day. The market has been fluctuating upwards, and the market sentiment has improved slightly. Some merchants have slightly raised the quotes for medium plates, and under the rising market, downstream demand has slightly improved, and the transaction volume for the whole day has also improved compared to yesterday. In the short term, some market merchants still focus on selling, and the willingness to stock up actively is not strong, so although there is still room for the price difference between the north and the south, it is difficult to have a significant increase in the amount of materials from the north to the south in the short term. Overall, considering the general sentiment of merchants, it is expected that the national medium plate price will continue to be in a narrow range of adjustment on the 4th.

💰 Daily Price Quotes for Raw Materials

Iron Ore:

On July 3rd, the prices of mainstream imported iron ore varieties at Shandong ports were slightly stronger than the previous working day, with an increase of 10-15. On the seller's side, the enthusiasm of traders in the region to quote was acceptable, mainly selling at suitable prices, and so far there has been little transaction in the spot market; on the buyer's side, some steel mills in the region replenished their stocks as needed, and there were fewer inquiries. At present, the mainstream PB powder is between 850-855; Super Special Powder is between 680-685; Card Powder is mainly at 1010. (Unit: yuan/wet ton)

Scrap Steel:

On July 3rd, the average price of scrap steel in 45 major markets across the country was 2396 yuan/ton, an increase of 6 yuan/ton from the previous trading day. At present, driven by the upward trend of the finished product market, the market merchants' expectations for price increases are gradually increasing, thereby reducing the pace of delivery, leading to a decline in the increase of steel mill arrivals. The Yangtze River Delta region is gradually out of the plum rain season, but it has entered the high-temperature mode of midsummer, which still has certain restrictions on scrap steel processing. In addition, due to the serious accumulation of finished products and the weakening of steel mill profits, steel mills are more cautious in adjusting the purchase price of raw materials. Overall, there has been a certain improvement in the recent market trend, but the steel mill profit is still the anchor point for the rise and fall of scrap steel prices. It is expected that the scrap steel market price will be stable and slightly strong on the 4th.

Coke:

On July 3rd, the coke market price was temporarily stable, the performance of black varieties was good, and the futures market rose, and the market sentiment warmed up. Affected by the downstream, the market has heard that coke will be raised by 50 yuan/ton again, and the mainstream coke enterprises have not yet confirmed the increase. The raw material prices are also generally better, most coal types are on the rise, there have been more transactions recently, and the auction flow rate is low. It is expected that the coke price will remain strong in the short term.

🔮 Steel Market Price Forecast

Recently, the main rain belt will move from the middle and lower reaches of the Yangtze River to the Huang-Huai region, and many places such as Fujian, Guangdong, and Jiangxi have ushered in high-temperature weather, and the improvement of steel demand in the off-season is limited. On July 3rd, Mysteel's statistics showed that the average cost of 76 independent electric arc furnace steel mills for construction steel was 3806 yuan/ton, and the average profit was -201 yuan/ton, and the valley electricity profit was -62 yuan/ton. Due to the loss of independent electric arc furnace steel mills, it is expected to continue to reduce production, and the output of blast furnace iron water has peaked.

Overall, the recent steel market supply and demand pressure has been somewhat relieved, but the unstable demand in the off-season restricts the rebound space of steel prices, and the raw material prices are temporarily firm, and the cost support for steel prices has been slightly raised. In the short term, steel prices may fluctuate and be strong.