Five Steel Mills Have Raised Their Prices, And The Futures Market Is Turning Red, Indicating That Steel Prices May Continue To Be Strong.

On August 17th, the domestic building materials market was running strong, while the plate market was running weak. The Tangshan Qian'an Pusquare billet factory price was raised by 10 yuan/ton to 3530 yuan/ton including tax. In the morning, the futures market was fluctuating and mostly strong, and the prices of domestic construction steel materials followed a slight increase. In terms of transactions, the morning performance was generally okay, and the spot trading improved in the afternoon as the futures market continued to rise.

For cold rolled sheet coils, on August 17th, the average price for 1.0mm cold coils in 24 major cities in China was 4642 yuan/ton, which was a decrease of 2 yuan/ton from the previous trading day. Business mentality was relatively stable, and the spot market prices were generally stable. In terms of transactions, the market was relatively sluggish, and the performance was lackluster. In terms of supply, according to feedback from the steel mills, orders in August were good and almost completed. It is expected that production and operating rates will remain at a high level in August, and the pressure on the supply side will continue to be high. In terms of inventory, on August 17th, Mysteel monitored the social inventory of cold-rolled sheet coils in 26 cities, which was 1.2216 million tons, an increase of 0.63 million tons from the previous week. The current terminal demand is still weak, and social inventory has slightly accumulated. Traders are generally cautious about the market outlook.

Overall, it is expected that the price of cold-rolled sheet coils on August 18th will mainly fluctuate narrowly.