Steel prices fall on June 21

On June 21, the domestic steel spot market continued to show a downward trend. Under the adverse climatic conditions and poor downstream demand, the steel market continues to be weak, and the market price is hard to find strong support and the decline will not change. The current business mentality is generally more pessimistic, due to the continued decline in forward prices, businesses are not optimistic about the short-term market, coupled with the date approaching the end of the month, financial pressure is expected to be larger, business ** willingness to significantly increase, so the market prices continue to fall. On June 21, the Myspic Composite Index was 175.2 points, which was a decrease of 0.28% from the previous trading day.

The flat product index was 151.6 points on June 21, down 0.26% from the previous day. Among them, the hot rolling index and the cold-rolled index fell more, falling by 0.41% and 0.24% respectively. In the hot-rolling market, the market in Jinan and Lanzhou have seen a relatively large drop. On the 21st, the Jinan hot-rolled market suffered a larger decline. As terminal demand continued to slump, the demand for steel products approached the off-season and the steel market demand gradually became light. In addition, the end of the bearish outlook, as far as possible postponed the procurement plan, the market volume in the recent period allowed Traders are very upset. Merchants continue to lower their offers in the expectation that shipping pressure will continue to increase in the later period. Lanzhou's hot rolling market continued to decline on the 21st. On the previous trading day, local leading steel mills in Lanzhou once again pulled back market quotations. As a result, market prices in Lanzhou region oscillated again, and bearish sentiment continued to spread. It was originally due to tight sales resources. The high varieties have come down and the market performance has been very weak. On June 21, the hot rolled 3.0mm of Jinan market and Lanzhou market fell by 50 yuan/ton and 40 yuan/ton respectively compared with the previous trading day.

In the cold-rolled market, the decline in Qingdao market and Zhengzhou market is relatively obvious. On the 21st, the cold rolling market in Zhengzhou partially fell. With the further opening of the forward price on the 21st, the market's bearish attitude in Zhengzhou market became more pronounced, and the active price increase phenomenon increased. Demand for the local cold rolling market is still sluggish, coupled with domestic high inflation pressures, business capital turnover is more difficult, so price drop cargo ** has become the choice of most businesses. On the 21st, the cold-rolling market in Qingdao was weakly adjusted. Due to rainfall, shipments in the local market were relatively affected, and the market inventory declined. The pressure on businesses' funds has already been reflected, so the pricelessness of desperation declined. On June 21st, cold rolling of 1.0mm in Zhengzhou market and Qingdao market fell by 50 yuan/ton and 30 yuan/ton respectively compared with the previous trading day.

On June 21, the long products index was 199.6 points, which was 0.35% lower than the previous day. On June 21, the price of domestic steel ** oscillated and closed up, closing 1110 in the main screw, which was 4710, up 0.19%. The Wuhan market and the Zhengzhou market have experienced relatively large declines. In the Wuhan market, driven by the general decline in the national market during the first trading day, it was difficult to continue to hold steady and join the falling queue. With the further tightening of funds and the drop of heavy rains in the local area, which led to further tightening of downstream purchases, businesses are looking at the hollow state more clearly. Therefore, the market decline has begun to establish. On the 21st, Zhengzhou's building materials market fell in an all-round way. Affected by the concentration of local steel mills, the price of building materials in the market fell across the board. Business confidence in the short-term market fell to a low point. The concessions made by steelmakers caused most people’s psychological support to collapse. Began to let the price sell for safety. The current decline has become the main theme of the downtrend, coupled with the continuous rainy weather, making the current weak demand even worse, the local long products market is expected to remain weak in the short-term decline. On June 21st, the HRB335 20mm thread in Wuhan market and Zhengzhou market both fell by RMB 40/ton compared with the previous trading day.