Haihao Group reminds you of fluctuations in raw material markets
In the week spanning from October 23rd to October 27th, domestic steel prices in China exhibited upward movement. Notably, both the long steel price index and flat steel price index showed moderate increases.
Looking at the regional perspective, CSPI’s steel price indices in China’s six major regions, with the exception of the Northwest region, witnessed week-on-week increases. The most substantial increase occurred in the North China region, while the Southwest region exhibited the smallest rise. Notably, the North China region’s steel price index reached 106.70 points, indicating a 0.60-point week-on-week increase, growing by 0.57%. However, compared to the end of the previous month, it decreased by 1.10 points, marking a 1.02% drop. The Northeast region’s steel price index stood at 105.33 points, reflecting a 0.33-point week-on-week increase, growing by 0.32%. Nevertheless, compared to the end of the previous month, it declined by 1.61 points, down by 1.51%. In the East China region, the steel price index reached 108.57 points, with a 0.44-point week-on-week increase, marking a 0.41% growth. Compared to the end of the previous month, it decreased by 0.61 points, showing a 0.56% drop. In the Central-South region, the steel price index was at 109.55 points, with a 0.26-point week-on-week increase, signifying a 0.24% growth. However, compared to the end of the previous month, it decreased by 0.81 points, marking a 0.73% drop. In the Southwest region, the steel price index reached 107.27 points, indicating a 0.09-point week-on-week increase, growing by 0.08%. Nevertheless, compared to the end of the previous month, it decreased by 0.37 points, down by 0.34%. The Northwest region’s steel price index was at 109.09 points, showing a 0.30-point week-on-week decrease, marking a 0.18% drop. Compared to the end of the previous month, it declined by 1.57 points, down by 1.42%.
stainless steel raw material
Among the eight major steel categories, all but high-line and threaded steel witnessed decreases compared to the end of the previous month. The most significant drop occurred in medium-thick plates, while galvanized plates exhibited the smallest decline. For instance, the 6-millimeter high-line price index reached 113.88 points, representing a 0.29% increase compared to the previous month. The 16-millimeter threaded steel price index was at 105.64 points, indicating a 0.19% increase over the previous month. However, the 5# angle steel price index was at 111.16 points, reflecting a 1.22% decrease compared to the end of the previous month. Similarly, the 20-millimeter medium-thick plate price index was at 107.33 points, showing a 3.59% decrease compared to the end of the previous month. Other categories, including 3-millimeter hot-rolled coil plates, 1-millimeter cold-rolled thin plates, and 1-millimeter galvanized plates, experienced varying degrees of decline, with the latter having the smallest decrease. For example, the 3-millimeter hot-rolled coil plate price index was at 101.98 points, showing a 1.64% decrease compared to the end of the previous month. The 1-millimeter cold-rolled thin plate price index reached 100.40 points, reflecting a 0.51% decrease compared to the end of the previous month. In the case of the 1-millimeter galvanized plate, the price index was at 103.42 points, indicating a 0.16% decrease compared to the end of the previous month. The 219-millimeter x 10-millimeter hot-rolled seamless pipe price index reached 95.35 points, showing a 1.85% decrease compared to the end of the previous month.
In the current market landscape, boosted by the issuance of a special national bond worth ¥1 trillion, market confidence has seen a significant recovery, leading to a slight upturn in steel prices. However, steel companies continue to face losses in the short term. With no evident decrease in supply or notable improvement in actual demand, it is anticipated that steel prices will remain relatively stable in the short term, with a tendency towards mild fluctuations.