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Steel prices rose slightly according to Baosteel's price policy in September. Except for the wide plate and the flat in August, the prices of hot-rolled, cold-rolled, galvanized and silicon steel were all raised, ranging from 60-150 yuan/ton. After Baosteel raised the ex-factory price, steel mills such as Wuhan Iron and Steel, Taigang and Chongqing Iron and Steel also adjusted the ex-factory prices of some steel products.
Analyst Hu Yanping believes that Baosteel's plate order prices in September have risen in line with expectations. The main reason for the price increase is that the price of steel prices in the previous period has been considerably reduced, and the cost pressure is relatively high. In addition, the upcoming “Golden September and Silver 10†production season also caused steel mills to raise prices.
It is understood that Baosteel continued to reduce the order price of sheet products in May-August, and the cumulative reduction of various varieties ranged from 200-1950 yuan/ton. Among them, deep-drawn cold-rolled and non-oriented silicon steel is the most obvious, with a drop of more than 500 yuan / ton. At the same time that Baosteel and other steel mills have lowered their order prices, the prices of raw materials for production have risen, which has increased the pressure on production costs of steel mills, thus supporting steel prices.
In fact, since July, China's steel prices have started to rise slightly. According to the China Iron and Steel Association, at the end of July, the CRP steel comprehensive price index of China Steel Association was 134.64 points, up 0.24 points month on month, or 0.18%, up 20.60 points or 18.07% from the same period last year.
In terms of varieties, the price of long products in the top eight steel products in the country increased at the end of July. The prices of high-line, rebar and angle steel increased by 1.51%, 0.85% and 0.10% respectively; the price of sheet metal increased by 0.43%. In addition, the prices of other varieties continued to fall. Among them, the price of plate was down 0.93%, the price of cold-rolled sheet fell by 0.40%, the price of galvanized sheet was relatively stable, and the price of hot-rolled seamless pipe fell by 0.55%.
China Steel Association believes that the growth rate of the main steel industry in July has slowed down, but it still maintains rapid growth, and steel demand is still relatively strong. The domestic crude steel output decreased, the net export volume increased, and the contradiction between market supply and demand eased, which led to a slight increase in steel prices.
Cost pressure demand pushes rising raw fuel prices, which increases the pressure on steel mill production costs. The trend of high cost of steel enterprises is difficult to change in the short term, and the current market demand is still relatively strong. Therefore, it is widely expected in the industry that steel prices will be in the future. Continue to maintain the situation of shocks and upwards.
According to the data of China United Steel, China imported 54.55 million tons of iron ore in July, and the unit price was 173.2 US dollars / ton, up 8.8% from April's 159.2 US dollars / ton. At the same time, the spot price of iron ore was consolidating at a high level, and 63.5% of the Indian powder mine in Tianjin Port fluctuated between 1,300 and 1,350 yuan/ton.
In addition to iron ore, the purchase price of industrial producers rose by 11.0% year-on-year in July, an increase of 0.5 percentage points from the previous month. Among them, the price of fuel power increased by 12.6% year-on-year, an increase of 0.6 percentage points from the previous month. As the steel industry has been operating at high cost, there is limited room for a sharp decline in steel prices.
China Steel Association believes that China's urbanization and industrialization are accelerating, the economic restructuring is accelerating, and the driving force for economic growth in the later period is still strong. The demand for steel in the market is still relatively strong. Among them, large-scale construction of public housing and water conservancy projects, investment in railway construction projects is also large, and demand for steel for construction is large; growth in shipbuilding, automobile, construction machinery and other industries is slowing down, and competition for homogenization of sheet and strip products will be more fierce.
Domestic steel prices have entered a rising cycle
Since July, China's steel prices have risen slightly, and steel demand is strong. Recently, Baosteel has raised the ex-factory price of steel in September, and domestic mainstream steel mills have followed the price adjustments, showing optimistic expectations for future steel trends. The industry believes that with the support of high costs and the demand of the future, domestic steel prices are expected to continue to fluctuate upward.