Since September, the prices of sheet metal and construction steel have gradually broken back in the first two months, and the varieties have seen a slight decline. In the first week of September, the average price of 10 kinds of steel products was 4430.1 yuan/ton, which was 72.4 yuan/ton lower than the first week of August, a decrease of 1.61%.
The decline in steel prices showed that the price of sheet metal fell more than that of construction steel. The decline of medium and heavy plates was greater than that of thin plates, and the decline of cold rolled sheets was greater than that of hot rolled sheets. The price of 10mm hot rolled plate, 6mm hot rolled plate, 1mm cold rolled sheet and 1mm hot rolled sheet in the first week of September fell by RMB 172/ton, RMB 147/ton and RMB 125 respectively compared with the first week of August. / ton and 41 yuan / ton, while the price of various construction steel fell between 20-50 yuan / ton.
Experts from the National Development and Reform Commission's Price Monitoring Center pointed out that the main reason for the decline in steel prices after a short-term rebound was that steel production continued to grow rapidly, and the pattern of oversupply has not changed. In July, domestic steel output reached 31.361 million tons, up 28.0% year-on-year. Among them, plate and strip production increased the fastest, special thick plate, thick steel plate, hot rolled sheet, medium thick wide steel strip, hot rolled thin wide steel strip, heat The output of narrow-rolled steel strips and cold-rolled narrow strips increased by 49.4%, 39.9%, 39.9%, 54.3%, 28.3%, 50.4% and 64.8% respectively over the same period of last year, while at the same time, automobiles, real estate, machinery, shipbuilding, The growth rate of downstream industries such as containers has also slowed down. It can be said that in the context of oversupply in the steel market, the basis for the rebound in steel prices since the end of July is not solid.
In addition, on August 23, Baosteel lowered the average price of various products to 8.6%, which had a great impact on market expectations and psychology. The recent decline in steel production costs, including the decline in domestic coke prices, the continued decline in international freight rates, and the reduction in the cost of imported raw materials caused by the appreciation of the renminbi, is also the reason for the further decline in steel prices.
From the perspective of the international market, steel prices have continued to fall since the second quarter, and the decline has expanded. In August, international steel prices fell by 7.68%. Among them, the price of cold-rolled sheets fell by 16.05% from the previous month, and was affected by factors such as high inventory. Recently, international steel prices are still likely to fall.
In view of the fact that the pattern of oversupply of steel will not change in the short term, it is difficult for international steel prices to have a big improvement in the near future. Experts expect that domestic steel prices will still have a slow decline in the near future. In particular, many dealers are now pressured to withdraw funds, and they may have to cut prices at a later stage. However, on the other hand, as the current steel price is already at its lowest point since this year, the comprehensive average price of 10 steel products has been 7.23% lower than the beginning of the year, and the price of steel prices will not fall much. It is expected that after a small short-term decline, Steel prices will gradually stabilize.
The decline in steel prices showed that the price of sheet metal fell more than that of construction steel. The decline of medium and heavy plates was greater than that of thin plates, and the decline of cold rolled sheets was greater than that of hot rolled sheets. The price of 10mm hot rolled plate, 6mm hot rolled plate, 1mm cold rolled sheet and 1mm hot rolled sheet in the first week of September fell by RMB 172/ton, RMB 147/ton and RMB 125 respectively compared with the first week of August. / ton and 41 yuan / ton, while the price of various construction steel fell between 20-50 yuan / ton.
Experts from the National Development and Reform Commission's Price Monitoring Center pointed out that the main reason for the decline in steel prices after a short-term rebound was that steel production continued to grow rapidly, and the pattern of oversupply has not changed. In July, domestic steel output reached 31.361 million tons, up 28.0% year-on-year. Among them, plate and strip production increased the fastest, special thick plate, thick steel plate, hot rolled sheet, medium thick wide steel strip, hot rolled thin wide steel strip, heat The output of narrow-rolled steel strips and cold-rolled narrow strips increased by 49.4%, 39.9%, 39.9%, 54.3%, 28.3%, 50.4% and 64.8% respectively over the same period of last year, while at the same time, automobiles, real estate, machinery, shipbuilding, The growth rate of downstream industries such as containers has also slowed down. It can be said that in the context of oversupply in the steel market, the basis for the rebound in steel prices since the end of July is not solid.
In addition, on August 23, Baosteel lowered the average price of various products to 8.6%, which had a great impact on market expectations and psychology. The recent decline in steel production costs, including the decline in domestic coke prices, the continued decline in international freight rates, and the reduction in the cost of imported raw materials caused by the appreciation of the renminbi, is also the reason for the further decline in steel prices.
From the perspective of the international market, steel prices have continued to fall since the second quarter, and the decline has expanded. In August, international steel prices fell by 7.68%. Among them, the price of cold-rolled sheets fell by 16.05% from the previous month, and was affected by factors such as high inventory. Recently, international steel prices are still likely to fall.
In view of the fact that the pattern of oversupply of steel will not change in the short term, it is difficult for international steel prices to have a big improvement in the near future. Experts expect that domestic steel prices will still have a slow decline in the near future. In particular, many dealers are now pressured to withdraw funds, and they may have to cut prices at a later stage. However, on the other hand, as the current steel price is already at its lowest point since this year, the comprehensive average price of 10 steel products has been 7.23% lower than the beginning of the year, and the price of steel prices will not fall much. It is expected that after a small short-term decline, Steel prices will gradually stabilize.
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