SunSirs: The Sluggish Trend of the Mild Steel Plate Market Remained Unchanged, with a Drop of 3.40%

https://www.chemnet.com   Jul 30,2024 SunSirs

Price trend

This week, the price of mild steel plates fell slightly, and by Thursday, traders were in a bad mood with poor transactions, with a drop of 40-60 RMB/ton. At the end of the week, the market bid slightly increased by 20 RMB/ton after the market rose. According to the Commodity Market Analysis System of SunSirs, the price of mild steel plates fell from July 19, 2024 to July 26, 2024. The price of ordinary medium plate (material: Q235B; specification: 20) was 3,532 RMB/ton on July 19th and 3,412 RMB/ton on July 26th, a decrease of 3.40%.

Analysis review

Steel billet market: Domestic steel billet prices had mainly fallen this week. As of July 26th, some steel mills in Tangshan had produced steel billets at a price of 3,140-3,160 RMB/ton including tax, while traders shipped 3,200 RMB/ton including tax, a decrease of 110-130 RMB/ton compared to the previous week. In terms of inventory, the total storage inventory of Tangshan's five major steel billets was 94.55 tons, an increase of 0.08 million tons compared to the previous period, and the warehouse increased for four consecutive days.

Supply and demand side: From the supply side, steel mills were experiencing profit losses, weakened production enthusiasm, and some steel mills were undergoing maintenance and production shutdowns, resulting in a slight decline in high output. From the demand side, the demand continued to be weak, coupled with a volatile downward market sentiment. Traders had poor enthusiasm for replenishing inventory, and their operations mainly focused on selling goods at low prices. The terminal purchased in small quantities according to demand, resulting in light transactions.

Market outlook

In the short term, weak demand remained unchanged and market confidence was insufficient. It is expected that domestic mild steel plate prices will continue to fluctuate weakly next week.

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