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The first week of the New Year 2019: China's steel price declines narrowed steel plate

With the performance of the relevant futures markets improving, the decline of spot steel market in China narrowed and the turnover improved at relatively low prices as the new year of 2019 opened.

According to the analysis, in the construction steel market, steel prices fell slightly. The average price of the main specification threaded steel varieties in the main market of China is 3930 yuan per ton, down 47 yuan per week. According to the latest inventory data, under the condition of slight decline in the output of threaded steel and the weakening demand, both social inventory and steel plant inventory show a trend of cumulative increase.

In the steel plate market, the steel price is generally weak. Hot-rolled steel coil prices fell slightly. The average market price of hot-rolled steel products of mainstream specifications in the main markets of the country was 3734 yuan per ton, down 33 yuan per week. Medium and heavy steel plate prices fell slightly. The average price of the mainstream standard medium plate in the major markets of China was 3836 yuan per ton, down 11 yuan per week. At present, the market confidence is weak, business operations are mainly active shipment, winter storage willingness is low.

According to the analysis of relevant institutions, the supply and demand fundamentals of spot steel market are still in two weak states. As the year draws near, terminal demand will shrink further, and the market steel price will continue to be mainly weak in the short run.

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