Shanghai construction steel price rebounded by 10% in half a month

According to the latest market report provided by the well-known steel spot trading platform “Xiben Shinkansen”, the Shanghai construction steel market continues to continue its upward trend. The rebound rate has been close to 10% in more than half a month. Although the demand for admission is repeated, the overall situation is a shocking and heavy volume. As the price of minerals has increased by about 24%, the upstream cost of steel production continues to be at a high level. In July, the domestic crude steel output decreased again, so the new round of factory pricing of steel mills has upward momentum, and the market gradually enters into “steel mills”. The stage of pushing up.

Relevant data shows that Shanghai construction steel prices continue to move upward. At present, Shanghai's high-quality secondary steel rebar price is adjusted to around 3,930 yuan, up 50 yuan a week; Shanghai high-quality third-grade rebar offer is also adjusted to about 4030 yuan per ton, up 70 yuan a week. After nearly three months, the construction steel price in Shanghai once again touched the threshold of 4,000 yuan per ton. In the past half a month, the price rebounded by nearly 10%. Market participants estimate that most of the traders who had “floating a loss” in the previous period have already “destroyed”.

According to analysis by some market analysts, since mid-July, the terminal purchase volume of construction steel in Shanghai has rebounded sharply in the past two weeks, and there has been a significant drop of about 30% in the previous week. There is a clear rebound again. It can be seen that although the demand performance is repeated, the characteristics of the total volume enlargement and successive admissions can still be grasped, which is also a strong support for the current steel price. According to the latest data from the National Bureau of Statistics, the daily output of domestic crude steel fell by nearly 7% month-on-month in July, which was the second consecutive month of decline and fell to the lowest level since March this year. The release pressure of domestic steel production capacity has temporarily eased, but with the rapid rebound of steel prices, the supply pressure in the latter stage remains to be seen.

The raw material market for steel is also continuing to rise. Following the billet and iron ore, the price of coke has also slightly strengthened. At present, the price of imported spot mines continues to push up slightly, but the transaction is average. The mainstream price of 63.5% grade Indian powder mines is around 155 to 157 US dollars per ton, compared with the previous lows, the rebound rate has reached 24%. In July, domestic imports of iron ore increased by 4.03 million tons from the previous month, which was the first rebound after two consecutive months of decline. Due to the common support of the demand side and the cost side, the market is gradually entering the stage of “steel mills pushing up”. In terms of construction steel, the first ex-factory price of Hebei in North China raised the ex-factory price by 170 to 300 yuan per ton; then to Shagang in East China, the price of ton was raised by 200 yuan. However, manufacturers such as Guangzhou Iron and Steel and Yufeng in South China have not increased much, but they have frequently raised prices.

The industry believes that the release of steel terminal demand is obviously repeatable, which needs to be carefully grasped. In this round of steel mills pushing up the "cycle", at present, most building materials steel mills are actively raising prices, and the first-line coil steel mills have not really "powered", and the trend of the latter step is worthy of careful observation. At the same time, the impact of the capital market on the steel spot market cannot be ignored. The capital market has undergone certain adjustments during the week, but from the trend of steel futures, there is strong support at the price of 4,300 yuan per ton of steel. It is expected that the correction will be followed by the re-continuation of the original track, which may indicate that the spot steel price will be in a short-term upswing.

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