April 22 Steel Price Index

The flat product index was 154.5 points this week, down 0.1% from last week. Among them, the medium-thickness index and the cold-rolled index have a relatively large drop. Declined by 0.2% and 0.3% respectively. In the plate market, the Tianjin market and Shenyang market have fallen relatively large. The Tianjin plate market fell and stabilized after this week. According to the market reaction, the overall turnover of the local market was relatively poor at the end of last week, and merchants indicated that shipments were difficult, so the market price fell slightly in the early days of this week. Demand has become the main reason for this price drop. After the early-stage price drop, there was no obvious improvement in market transactions. However, the late-stage merchants were affected by high costs and did not continue to lower the quotation. The market gradually stabilized and the mentality was relatively calm. Shenyang plate fell for the first time in a steady manner. Affected by the fall in peripheral markets such as Tianjin and Tangshan, the Shenyang market opened slightly lower this week. Demand for the local market was affected by the rainy weather and volatile prices in the early days of this week. The wait-and-see atmosphere was heavier and the transaction was not satisfactory. At present, the Shenyang plate market is relatively confusing, although higher costs have a bearing on the market, but the high inventory increases the sales pressure of the business, the market is willing to ship, although the latter period, although steady, the price still shows signs of loosening. This week, the 20mm plate in Tianjin market and Shenyang market fell by 40 yuan/ton and 50 yuan/ton respectively.

In the cold rolling market, the Tianjin market and the Shenyang market continued to decline. This week, the market demand for Tianjin's cold rolled steel was relatively weak, and the inventory was relatively high, which gave the market greater sales pressure. Some merchants with large inventory pressures have adjusted their prices and have a strong willingness to ship, while merchants with low inventory pressure will not adjust their willingness to continue to maintain stability. At present, local market demand is mainly concentrated on low-cost resources, and high-cost resources are almost unattended. In addition, the local leading steel mills lowered the cold-rolled prices again, which further drove the drop in prices, and the market trend oscillated. The weak market in Shenyang fell this week. Last week, local leading steelmakers reduced the new round of cold-rolled prices again, making the market's rising space almost closed and the callback space slightly enlarged. The merchants reflected that the current market volume was light, the demand attitude was heavier, and the willingness to take goods was not strong, making the market difficult to improve and the trend continued to weaken. Cold rolled 1.0mm in Tianjin market and Shenyang market this week fell by 50 yuan/ton from last week.

The long products index was 195.6 points this week, down 0.3% from last week. This week, the price of domestic steel ** oscillated, first fell and then rose, driving the spot market also fell after the first steady state trend, its shanghai market and the Chongqing market, the decline is relatively obvious. Shanghai's long products market last week after the general price rose, the market demand did not effectively follow up, so this week driven by the long-term prices, quotes appeared loose, slightly turbulent mentality. However, in the late period, with the increase in forward prices, the market's mentality has improved, but since the transaction has always been normal, the wait-and-see atmosphere is heavier and the quotation is gradually stable. This week, the long products market in Chongqing oscillated. In the wake of the central bank’s upward adjustment of the deposit reserve ratio, the weakness of the surrounding dominant markets, and the decline in forward prices, the opening of the market this week saw a slight decline in Chongqing’s long product market price. However, due to the fact that the local steel mills did not downgrade the new round of price policies, the business mentality was relatively calm. Later, with the increase in price, the market price was slightly increased. With this stimulation, the market transactions have improved, and the trading environment has become increasingly active. This week, the HRB33520mm of Shanghai market and Chongqing market fell by 20 yuan/ton and 30 yuan/ton respectively compared with last week.

Regionally, this week the Northeast index led the decline with a 0.5% decline. Mainly due to the market's downward adjustment in various varieties this week in Shenyang, which drove the regional index to fall more significantly.