China's steel market in late December

Billet market: China's billet market prices fluctuated and fell this week. As of December 23, billet average market price was 3792 yuan/ton. Influenced by last Friday's rebar futures night trading substantia downward, the billet price fluctuated and fell, and manufacturers' operation enthusiasm was restrained. Check the information of graphite electrode for EAF steelmaking. Due to low profits and difficulties in delivery of finished products, downstream rolling plants have weak purchasing demand, resulting in increased warehousing of direct delivery resources. In addition, terminal demand is limited. Although the downstream replenishment increased slightly in the later period, and market trading showed signs of improvement. However, the social stock of steel billets has increased slightly, manufacturers are more cautious in trading, and the weak market pattern is highlighted.

Construction steel: China's construction steel prices fluctuated and fell this week. As of December 23, rebar average market price was 4128 yuan/ton. This week, the price of rebar futures fell sharply, and the market was in panic. Most manufacturers were afraid of falling, so they sped up the shipments. Spot prices fell rapidly. After that, the trading performance was poor and the overall trading volume decreased significantly.

Due to the impact of the epidemic, the number of confirmed cases has increased rapidly. In addition, near the end of the year, some projects were shut down, downstream demand was weak and market shipments were low. At present, under the condition of low demand, the market inventory has accumulated, so manufacturers have certain inventory pressure, the market is pessimistic and low price orders appear. For more information about the steel market, please feel free to consult us.