Domestic Steel Price Consolidation, Raw Materials Continue To Rise
Domestic steel price: the domestic steel market this week is basically stable. Hot rolled, rebar and wire rod slightly increased in the common carbon variety, while the cold rolling and medium plate slightly decreased. The fluctuation range was less than 70 yuan / ton, showing a clear consolidation trend.
Compared with the highest price in June, the decline of various varieties is still around 40%, compared with the lowest price, except for the rebound of hot rolled rolls about 30%, the rest of the common carbon varieties rebounded by about 6%.
According to the Mysteel survey, the view that the market will be consolidated is still dominant. The proportion of drop rolled steel and hot coil is 37% and 14% respectively, and the bullish ratio is 9% and 15% respectively.
International steel price This week International Steel Market trend differentiation, U.S. board continued to decline 40 U.S. dollars / ton, or about 5.5%, Korea plate, rebar price rebounded 29~45 U.S. dollars / ton, or 5%~7%. LME billet futures price closed at 335 U.S. dollars / ton, a slight increase of 3.1%. In the past 3 months, the futures variety has been oscillating between us $300~400 / ton.
Raw materials: with the partial production of steel production limited, the price of raw materials continues to rise. Tangshan mines and India mines rose by 5% and 9.5% respectively, and the sea freight increased by more than 6%. Compared with the highest price in the same year, ore still fell by about 50% and sea freight fell by about 90%. The prices of coke, scrap and pig iron remained stable, and nickel prices fell by 7%, basically reflecting last week's gains.
Inventory: this week, the social base changed. The construction steel stocks nationwide continued to increase by about 3%, while the medium plate inventories increased by 2.6%, while the cold rolling and hot rolling stocks dropped by nearly 2%. Port iron ore inventories continued to decline, a decrease of 5% from last week, a decrease of about 17% from the highest point, but still above the historical average of 40 million tons.
Share price and Valuation: Domestic steel Stocks rose 4.3% from last week, weaker than the Shanghai and Shenzhen 300 index of 0.4%. International steel stocks are generally performing, while 7 of the 10 international steel stocks tracked are rising, but only 4 stronger than those in the relative market. Editor: vivi
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