The domestic steel market continued its gradual upward trend with some fluctuations yesterday, but the coil sector remained in a consolidation phase, while the profiles and pipes maintained stability. According to data from China Steel Network, as of yesterday, the lowest price for 20mm three-grade rebar in the Beijing market of North China dropped to 3,400 yuan/ton, while the same specification reached 3,500 yuan/ton in Jinan, East China. In North China, the lowest prices in Shijiazhuang rose to around 3,360 yuan/ton, and in East China, they climbed to 3,410 yuan/ton. Meanwhile, the average price of 20mm HRB400 rebar in the mainstream market was 3,594 yuan/ton, up 9 yuan/ton from the previous day. The average price of 20mm plate stood at 3,473 yuan/ton, an increase of 6 yuan/ton. Hot-rolled coils (4.75mm) averaged 3,493 yuan/ton, up 1 yuan/ton, and 5# angle iron averaged 3,547 yuan/ton, remaining stable compared to the previous day.
On the policy front, the central bank released 30 measures related to free trade zones, aiming to prevent hot money from entering the country. On December 2, the People's Bank of China officially issued the "Opinions on Financial Support for the Construction of China (Shanghai) Free Trade Pilot Zone," which includes seven main sections and 30 sub-items. Haitong Securities noted that these guidelines support innovation in risk management and separate accounting systems, ensuring independence from the domestic account management system, thus helping to curb the inflow of speculative capital into the zone.
From the cost perspective, Tangshan billet prices fell by 10 yuan/ton yesterday, and this morning, the price of 150mm billet in Tangshan was reported at 3,000 yuan/ton. Additionally, several manufacturers in Hebei, including Yuanbaoshan, Wenfeng, Huawei, and Puyang, increased plate prices by 10–50 yuan/ton. Panzhihua and Kunming saw a decrease of 35 yuan/ton in late November hot and cold rolled products. Meanwhile, factories such as 2672 Plant, Jinan Iron and Steel, and others reduced building material prices by 10–60 yuan/ton. E-Steel, Shuigang, Yunnan Desheng, Chenggang, Xiamen Zhongda, Chengdu Chengshi, Pancheng Steel, and others raised their factory prices by 20–60 yuan/ton. Overall, small second- and third-tier mills are still focused on upward price adjustments.
On the trading side, the main rebar contract Rb1405 opened higher but closed lower at 3,693, down 23 points from the opening of 3,716. Due to the more pronounced decline in rebar yesterday, the market fell below 3,700, and it is expected to see a short-term rebound today. Iron ore opened higher and closed at 945.
Looking at demand, end-user demand remained weak yesterday, with even lower trading volumes and limited upward momentum from businesses.
In summary, the China Steel Network believes that with the slow movement of the spiral trend yesterday and the current low demand from end users, most businesses continue to lack strong upward momentum. Considering the approaching weekend, the mainstream market is expected to enter a period of steady consolidation today. Today’s rebar prices are likely to fluctuate between -10 to +10 yuan/ton, with the average price of 20mm three-grade rebar ranging from 3,590 to 3,600 yuan/ton. The plate market will also see similar fluctuations, with the average price of 20mm plates between 3,470 and 3,480 yuan/ton.Electric Grinder,Laptop Screwdriver Set,Screwdriver Set With Case,Proto Screwdriver Set
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