[Overview of the Steel Spot Market] Today, the trading in the steel market did not show significant improvement. The favorable movement of the electronic disk in the morning provided good support for the spot market, and market sentiment recovered to some extent. However, spot prices still moved mainly in a weak trend. The construction material prices remained steady with some declines, with a drop of about 20 yuan. The mainstream prices in the hot-rolled market were relatively stable, but there was also a slight decline in the hot-rolled prices in some areas. Yesterday, Baosteel released its price policy for February, which had limited stimulating effect on the steel market as merchants were not optimistic about the future market and focused mainly on shipping goods.
The main trends of key types of steel prices are as follows:
Rebar: On the 6th, the Shanghai ะค18-22mm second-grade rebar quotation was 4510, stable compared to yesterday's Shanghai rebar quotation; Guangzhou second-grade rebar was quoted at 4820, down 10 yuan from yesterday; Changsha was quoted at 4720, down 10 yuan from yesterday; Beijing was quoted at 4120 for large-diameter thick-walled seamless steel pipes, down 10 yuan from yesterday.
Wire Rods: On the 6th, the price of 6.5mm high-line wire rods in Shanghai was quoted at 4270 by Pinggang, and Lengang in Guangzhou was quoted at 4490; Xianggang in Changsha was quoted at 4420, down 20 yuan from yesterday; Xuangang in Beijing was quoted at 4170, down 10 yuan from yesterday.
Medium-thick Plates: On the 6th, the price of 20mm ordinary carbon medium-thick plates in Shanghai, Magang was quoted at 4330; Shaogang in Guangzhou was quoted at 4360; Xinsteel in Changsha was quoted at 4250; Shougang in Beijing was quoted at 4050, down 20 yuan from yesterday.
Hot-rolled Coils: On the 6th, the price of Q235 5.5mm Shagang hot-rolled coil in Shanghai was quoted at 4230, stable compared to yesterday; Angang hot-rolled coil in Guangzhou was quoted at 4310, stable compared to yesterday; Liugang hot-rolled coil in Changsha was quoted at 4380, stable compared to yesterday; Shougang hot-rolled coil in Beijing was quoted at 4200Q345b seamless steel pipe, stable compared to yesterday.
Cold Rolled Sheets: On the 6th, the price of 1.0mm DC01 cold-rolled sheet in Shanghai, Wugang was quoted at 5160, down 10 yuan from yesterday; Angang in Guangzhou was quoted at 5210, down 30 yuan from yesterday; Wugang in Changsha was quoted at 5070, down 10 yuan from yesterday; Shougang in Beijing was quoted at 5430, stable compared to yesterday, supplying 304 stainless steel bars.