The release speed of demand in the domestic spot steel market is accelerating, but various constraints still exist to some extent, so the increase in spot steel prices is limited. The iron ore market is basically in a trend of fluctuating operation.
In the recent week, the domestic spot steel price composite index closed at 145.21 points, marking a 0.46% increase for the week. This basically continued the trend of slight upward movement. Specifically, at the beginning of the week, amidst the fluctuating and strengthening steel futures market, both the volume and prices of the spot steel market rose, and business sentiment improved. However, after the rise in steel prices, the wait-and-see sentiment among end-users began to increase again, leading to a continuous decline in market transaction volume, and businessmen's quotations also became more flexible. At the same time, the leading steel mills in East China issued a "falling price" for *** construction steel ex-factory quotations, which also brought a bit of "cool breeze" to the market to some extent.
According to analysis, prices in the construction steel market have seen a slight increase. The average price of mainstream rebar varieties in major markets nationwide stands at 3,900 yuan per ton, marking a weekly rise of 35 yuan. Data from ***'s steel market inventory indicates a continuous decline in total inventory, signaling a gradual release of end-user demand. Furthermore, the steel futures market and billet prices exhibit upward momentum, providing some support to the spot steel market.
In the steel plate market, prices have generally increased. Hot-rolled coil prices have continued to rise, with the average market price of mainstream specifications of hot-rolled products in major markets nationwide reaching 4,001 yuan per ton, an increase of 25 yuan per week. Medium and heavy plate prices have seen a notable increase, with the average price of mainstream specifications of medium and heavy plates in major markets nationwide reaching 4,217 yuan per ton, an increase of 34 yuan per week. Currently, as temperatures rise, end-user demand is gradually increasing, but at the same time, inventory pressure remains, and steel mill supply has not decreased significantly. Different market factors are interacting and influencing each other.
The iron ore market is generally in a state of fluctuation. In the domestic ore market, the price of iron concentrate powder in Hebei region remains basically stable, and steel mills are generally cautious in their procurement. The price of imported ore has risen first and then fallen. As of the 12th, the price of 62% grade imported iron ore was US$64.75 per ton, up US$1.75 in a week. Although steel mills have increased their inventory replenishment, and port iron ore inventories have declined to some extent, the driving force for ore price increases is still insufficient.
According to analysis by relevant institutions, the domestic steel market is currently characterized by a "combination of bullish and bearish factors." On the one hand, market sentiment is generally cautious, while on the other hand, there is anticipation for a certain boost to the steel market in the future. In the short term, domestic steel prices are expected to continue to fluctuate.