Raw material prices at a glance Inventory statistics Steel billets: black series fell across the board, Tangshan steel billets fell by 30% yesterday, direct billet sales were weak, and warehouse spot prices were around 3,800 yuan/ton; downstream steel in Tangshan fell by 10-40%,

Raw material price list

Inventory statistics

steel billet: black series fell across the board, Tangshan steel billet fell by 30

Yesterday, the direct billet was weak, and the warehouse spot price was about 3800 yuan/ton; Tangshan downstream steel fell by 10-40 yuan, and futures steel fell in response to the support of domestic and foreign troubles. Market sentiment weakened and trading was poor. Before noon, billet prices at mainstream steel mills in Tangshan fell by 30 to 3,740. 8 Since August, Tangshan warehouse inventory reduction has accelerated. As of yesterday, the three major warehouses have reduced inventories by 45.8% within the month. The speed of destocking is relatively fast. At the same time, it was reported last Friday that Tangshan has deployed crude steel reduction targets, with an annual task of more than 8 million tons. The increase in production is expected to slow down, which will provide certain support for steel billet prices. However, was disturbed by overseas sentiment in the short term, domestic commodities fell across the board, and finished products were under pressure to pull back. Although the market currently expects strong downstream demand during the peak season, demand improvement is limited due to weakening real estate and disruptions caused by the epidemic. It is predicted that billet prices may continue to weaken.

Iron Ore: Sentiment weakened, iron ore fell slightly

The Federal Reserve reiterated its firm stance on raising interest rates , Powell said that if inflation does not fall, interest rate hikes will continue, global financial markets have fluctuated violently, and sentiment has turned from bullish to slightly weaker. The overall black color has declined. The main iron ore contract fell, closing at 714.0, down 10.0, or 1.38%. opened high and moved low. It continued to decline in night trading and morning trading. rebounded slightly after testing the bottom of in late trading. Mainstream mineral products at Tangshan Port fell by 10-25 yuan/ton, with iron and swap falling at the same time, and Hong Kong spot transactions were weak. The resumption of production of steel plants continues to be realized, and the average daily hot metal production of steel plants has increased for four consecutive weeks. Last week, Tangshan deployed crude steel reduction targets, with an annual task of more than 8 million tons. The increase in production is expected to slow down, and the room for incremental iron ore demand may be limited.. Profits at the finished product end have fallen sharply, which has put pressure on raw materials. It indicates that ore prices are weak. However, last week, iron ore inventories in 45 ports across the country stopped increasing for eight consecutive years. Added to the decline in the volume of foreign ore arriving at the port, the inventory in the steel mills was low. Before the Mid-Autumn Festival, attention was paid to whether there would be phased replenishment to support the ore price.

Coke: The coke market is running weakly and steadily, and the coking coal market is mainly stable.

The coke market was running weakly and stably yesterday. On the supply side, coke enterprises' start-ups have rebounded slightly and coke production has increased, but the market has a strong wait-and-see sentiment. As the domestic epidemic began to spread sporadically, positive cases appeared in some areas of Shanxi, and the shipments of a few coke companies in the region were affected. In terms of demand, steel mills' blast furnaces continue to resume production, and rigid demand is still there. In addition, finished product prices have improved slightly recently, and steel mills' profitability has been restored. However, terminal demand is still lower than expected, and coke is mainly purchased on demand. In terms of ports, the coke spot at the port is operating weakly and steadily, the market trading atmosphere is deserted, the overall transactions are small, and traders are not willing to gather at the port. Taken together, the coke market is expected to operate weakly and stably in the short term.