In March, China's steel market generally showed a continuous downward trend. Affected by the lack of effective downstream demand and demand for delayed start and other factors, steel stocks continue to increase, steel prices continue to move down. Since entering April, steel prices stabilized, there is a slight rebound, is expected with the gradual recovery of demand, the later steel prices or oscillation strong operation.
Domestic steel price index continues to fall
According to the monitoring of China Iron and Steel Industry Association (CISIA), as of the end of March, the China Steel Price Index (CSPI) was 105.27 points, a drop of 6.65 points, or 5.94%; a drop of 7.63 points, or 6.76%, compared with the end of the previous year; and a year-on-year drop of 13.27 points, or 11.19%.
From January to March, the average value of CSPI was 109.95 points, a year-on-year decrease of 7.38 points, or 6.29%.
The prices of long steel and plate were down from the previous year.
By the end of March, the CSPI long steel index was 106.04 points, down 8.73 points, or 7.61%; CSPI plate index was 104.51 points, down 6.35 points, or 5.73%. Compared with the same period of the previous year, in March CSPI long steel, plate index fell 16.89 points, 14.93 points, down 13.74%, 12.50%.
From January to March, the average value of CSPI Long Products Index was 112.10 points, down 10.82 points year-on-year, or 8.80%; the average value of Plate Index was 109.04 points, down 8.11 points year-on-year, or 6.92%.
All varieties of prices continue to decline.
At the end of March, the steel association to monitor the eight major steel varieties, all varieties of prices continue to decline, including high wire, rebar, angle bar, ms plate, hot rolled steel coil, cold rolled steel sheet, galvanized sheet coil and hot rolled seamless pipe prices fell 358 rmb/ ton, 354 rmb/ ton, 217 rmb/ ton, 197 rmb/ ton, 263 rmb/ ton, 257 rmb/ ton, 157 rmb/ ton and 92 rmb/ ton, respectively.
Steel prices showed a continuous downward trend.
January - March, the domestic steel price index trend continued to decline. After the Chinese New Year, market transactions have not yet resumed, coupled with the impact of the continued accumulation of inventories, steel prices have continued to decline.
In addition to the Northwest region, other regions of steel prices continue to decline on a year-on-year basis.
In March, the CSPI six major regions of the steel price index ring in addition to the Northwest region from rising to falling (down 5.59%), the other regions continue to decline in prices ring. Among them, North China, Northeast China, East China, South Central and Southwest China at the end of March index than the end of February fell 5.30%, 5.04%, 6.42%, 6.27% and 6.29%.
At the end of March, the western rebar price index was 3604 yuan / ton, down 372 yuan / ton from the end of February, down 9.36%.
Steel prices in the international market from rise to fall
In March, the CRU International Steel Price Index was 210.2 points, down 12.5 points, or 5.6%, for two consecutive months of continuous decline; year-on-year decline of 32.7 points, or 13.5%.
From January to March, the average value of CRU International Steel Price Index was 220.3 points, a year-on-year decline of 8.4 points, or 3.7%.
Longwood and plate prices were down year-on-year.
In March, the CRU Long Products Index was 217.4 points, flat year-on-year; the CRU Plate Index was 206.6 points, down 18.7 points, or 8.3%. Compared with the same period last year, CRU Long Products Index decreased 27.1 points, or 11.1%; CRU Plate Index decreased 35.6 points, or 14.7%.
From January to March, the average value of CRU Long Products Index was 217.9 points, down 25.2 points, or 10.4% year-on-year; the average value of CRU Plate Index was 221.4 points, down 0.2 points, or 0.1% year-on-year.
North American region, the Asian region steel price index continued to decline, the European region steel index from rise to fall.
North American market
In March, the CRU North American steel price index was 241.2 points, down 25.4 points, or 9.5%; the U.S. manufacturing PMI (Purchasing Managers' Index) was 50.3%, up 2.5 percentage points from the previous year.In March, the U.S. Midwest steel mills saw a steady decline in long steel prices, and plate prices continued to fall.
European market
In March, CRU European steel price index was 234.2 points, down 12.0 points, or 4.9%; the final value of the euro zone manufacturing PMI was 46.1%, down 0.4 percentage points. Among them, Germany, Italy, France and Spain's manufacturing PMI were 41.9%, 50.4%, 46.2% and 51.4%, in addition to Italy's prices from decline to rise, the other countries prices ring from rise to fall. March, the German market in addition to a slight decline in section steel prices, long steel prices continued to rebound, plate prices from rise to fall.
Asian markets
In March, CRU Asia steel price index was 178.7 points, down 5.2 points or 2.8% from February, the ring continued to decline; Japan's manufacturing PMI was 48.2%, up 1.0 percentage points; South Korea's manufacturing PMI was 49.8%, a decline of 0.9 percentage points; India's manufacturing PMI was 59.1%, an increase of 2.2 percentage points; China's manufacturing PMI was 50.8%, up 1.7 percentage points from a year earlier. in March, the Indian market steel varieties, long steel, plate prices continued to decline.
Analysis of later steel price trend
Since April, the domestic steel market demand slowly recovered, steel inventory accumulated in the early stages of the gradual release. From the demand point of view, in the short term is expected to have seasonal repair, later steel price trend still depends mainly on the changes in the intensity of steel production. in March, the steel enterprises to carry out self-regulation to reduce production in April since the performance of the steel market to see the effect of steel prices stabilized, the contradiction between supply and demand in March has been eased.
Post time: Apr-24-2024