China Steel Price Index Weekly Report

In the week of April 15th to April 19th, the domestic steel price index rebounded, and the long product price index and plate price index both rebounded.

That week, the China Steel Price Index (CSPI) was 106.61 points, a week-on-week increase of 1.51 points, or 1.44%; an increase of 1.34 points, or 1.27%, from the end of last month; a decrease of 6.29 points, or 5.57%, from the end of last year; year-on-year It dropped by 8.46 points, or 7.35%. Among them, the long product price index was 109.11 points, a week-on-week increase of 2.62 points, an increase of 2.46%; an increase of 3.07 points, or 2.90%, from the end of last month; a decrease of 7.00 points, or 6.03%, from the end of last year; a year-on-year decrease of 9.31 points, The decrease was 7.86%. The plate price index was 104.88 points, an increase of 0.91 points or 0.88% week-on-week; an increase of 0.37 points or 0.35% from the end of last month; a decrease of 6.92 points or 6.19% from the end of last year; a year-on-year decrease of 11.57 points or a decrease of 9.94 %.

In terms of regions, the steel price index in the six major regions across the country increased week-on-week, with the largest increase occurring in East China and the smallest increase occurring in Northwest China. Specifically, the steel price index in North China was 105.94 points, a week-on-week increase of 1.68 points, or 1.61%; an increase of 1.90 points, or 1.83%, from the end of last month. The steel price index in Northeast China was 105.72 points, a week-on-week increase of 1.55 points, or 1.49%; an increase of 1.30 points, or 1.24%, from the end of last month. The steel price index in East China was 107.45 points, a week-on-week increase of 1.76 points, an increase of 1.66%; an increase of 1.70 points, or an increase of 1.61%, from the end of last month. The steel price index in Central and South China was 108.70 points, a week-on-week increase of 1.64 points, or 1.53%; an increase of 1.34 points, or 1.25%, from the end of last month. The steel price index in Southwest China was 105.98 points, a week-on-week increase of 1.13 points, or 1.08%; an increase of 0.60 points, or 0.57%, from the end of last month. The steel price index in Northwest China was 107.11 points, a week-on-week increase of 0.77 points, or 0.72%; an increase of 0.06 points, or 0.06%, from the end of last month.

In terms of varieties, compared with the end of last month, the prices of the eight major steel products have increased or decreased. Among them, the prices of high-wire and rebar steel have increased, while the prices of other varieties have decreased. Specifically, the price of high wire with a diameter of 6 mm is 3,933 yuan/ton, an increase of 143 yuan/ton from the end of last month, an increase of 3.77%; the price of rebar with a diameter of 16 mm is 3,668 yuan/ton, an increase of 150 yuan/ton from the end of last month. , an increase of 4.26%; the price of 5# angle steel is 3899 yuan/ton, an increase of 15 yuan/ton from the end of last month, an increase of 0.39%; the price of 20mm medium and thick plates is 3898 yuan/ton, a decrease of 21 yuan/ton from the end of last month , a decrease of 0.54%; the price of 3mm hot-rolled coils was 3926 yuan/ton, an increase of 45 yuan/ton from the end of last month, an increase of 1.16%; the price of 1mm cold-rolled sheets was 4488 yuan/ton, a decrease of 20% from the end of last month. Yuan/ton, a decrease of 0.44%; the price of 1 mm galvanized sheet is 4,955 yuan/ton, a decrease of 21 yuan/ton from the end of last month, a decrease of 0.42%; the price of hot-rolled seamless pipe with a diameter of 219 mm × 10 mm is 4,776 yuan / ton, an increase of 30 yuan / ton from the end of last month, an increase of 0.63%.

From the cost side, data from the General Administration of Customs show that in March, the average price of imported iron ore was US$125.96/ton, a month-on-month decrease of US$5.09/ton, or 5.09%; an increase of US$2.70/ton compared with the average price in December 2023. tons, an increase of 2.19%; higher than the same period last year by US$8.26/ton, an increase of 7.02%. In the week from April 15th to April 19th, the price of iron fine powder in the domestic market was 928 yuan/ton, a decrease of 33 yuan/ton from the end of last month, a decrease of 3.43%; a decrease of 182 yuan/ton from the end of last year, a decrease of 16.40% %; a year-on-year decrease of 48 yuan/ton, a decrease of 4.92%. The price of coking coal (grade 10) is 1,903 yuan/ton, down 25 yuan/ton from the end of last month, or 1.30%; down 690 yuan/ton from the end of last year, or 26.61%; down 215 yuan/ton year-on-year, or down by 26.61% from the end of last year; 10.15%. The price of coke was 1,754 yuan/ton, a decrease of 38 yuan/ton or 2.12% from the end of last month; a decrease of 700 yuan/ton or 28.52% from the end of last year; a year-on-year decrease of 682 yuan/ton or 28.00%. The scrap steel price is 2,802 yuan/ton, an increase of 52 yuan/ton from the end of last month, or 1.89%; a decrease of 187 yuan/ton, or 6.26% from the end of last year; a year-on-year decrease of 354 yuan/ton, or 11.22%.

From the international market, in March 2024, the CRU International Steel Price Index was 210.2 points, a month-on-month decrease of 12.5 points, a decrease of 5.6%; a decrease of 8.5 points, a decrease of 3.9% from the end of last year; a year-on-year decrease of 32.7 points, a decrease of 13.5% %. Among them, the CRU long product price index was 217.4 points, unchanged from the previous month; a year-on-year decrease of 27.1 points, a decrease of 11.1%. The CRU plate price index was 206.6 points, a month-on-month decrease of 18.7 points, a decrease of 8.3%; a year-on-year decrease of 35.6 points, a decrease of 14.7%. In terms of regions, in March 2024, the price index in North America was 241.2 points, a decrease of 25.4 points from the previous month, or a decrease of 9.5%; the price index in Europe was 234.2 points, a decrease of 12.0 points from the previous month, or a decrease of 4.9%; the price index in Asia was 234.2 points, a decrease of 12.0 points from the previous month, a decrease of 4.9%; It was 178.7 points, a month-on-month decrease of 5.2 points, or a decrease of 2.8%.

That week, domestic steel prices continued to rebound, and steel social inventories and corporate inventories continued to decline month-on-month. In fact, since the Qingming Festival, steel consumption has begun to gradually recover. Especially in March, data from the National Bureau of Statistics showed that crude steel output fell by 7.8%, a relatively large decline, and the contradiction between supply and demand has eased. After the news that the national crude steel production control work will continue to be carried out this year, market expectations have been strengthened, which is also the main factor for the rebound in steel prices. In the later period, with the recovery of steel demand, the steel market will continue to fluctuate and operate strongly.