flushfevervideopokeronlinefree| The steel market has stabilized and rebounded, and improved demand has driven prices upward: rebar 3770-3820 hot coil 3880-3930

News summary

Spot steel market stabilizesflushfevervideopokeronlinefreeThe cost of electric arc furnaces has increased slightly, and the prices of nightpan steel and iron ore have strengthened. The main contract for thread threads is expected to be between 3,770 and 3,820, and the main contract for iron ore is expected to be between 905 and 930.

Newsletter text

[The steel spot market stabilizes, and traders 'transactions decrease]

Yesterday, the steel spot market performed stably, and there was no significant fluctuations in market prices in various regions. According to statistics from Mysteel, the transaction volume of construction steel among 237 mainstream traders reached 13.flushfevervideopokeronlinefree.400,000 tons, down 9.9% from the previous trading day. With the gradual improvement of supply and demand and the recovery of market sentiment, steel prices showed an upward trend. During the night trading period, steel prices rose significantly following raw material prices.

[The cost of electric arc furnace steel mills increased slightly, and the profit situation remained stable]

The average cost of the 40 independent electric arc furnace construction steel mills surveyed by Mysteel was 3868 yuan/ton, an increase of 5 yuan/ton from the previous trading day. Despite this, the average profit is still at a loss, with a loss of 94 yuan per ton, while Gudian's profit remains at 20 yuan/ton. Cost support remains solid.

[Iron ore prices rose slightly, and port inventories fell]

In Qingdao Port, the spot price of 61.5% PB refined powder was 893 yuan/wet ton, an increase of 9 yuan/wet ton from the previous day. Statistics from Mysteel show that total imported iron ore inventories at China's 45 ports are 147.4 million tons, down 120,000 tons from last Monday. The price difference between molten iron and scrap steel in Jiangsu steel mills remains at 106 yuan/ton. The decline in port inventories suggests that the decline in inventories may continue. The price disadvantage of molten iron costs relative to scrap steel may lead to a small increase in short-process production, but this has limited impact on the overall market.

[Iron ore prices continue to be strong, and the main contract price range has been raised]

The iron ore market showed a trend of continuing the long position, and the price successfully broke through the resistance level of 900 yuan/ton. The price range of the main iron ore contract today is expected to be between 905 and 930 yuan/ton. At the same time, the main contract price ranges for rebar and hot coil are expected to be 3,770 - 3,820 yuan/ton and 3,880 - 3,930 yuan/ton respectively, indicating the market's strong judgment on steel prices.