China Association of the Iron and Steel Industry
In February, China's steel market continued the end of January steel prices continued to fall trend. Before the Spring Festival, the steel market turnover is general, and steel prices steady downward; after the Spring Festival, the downstream effective demand is insufficient and the demand starts delayed and other factors, steel stocks continuing to increase, and steel prices continue to decline. After entering March, steel prices accelerated downward, the overall trend of the downturn.
China's steel price index continues to fall on a year-on-year basis
As of the end of February, China Steel Price Index (CSPI) was 111.92 points, down 0.75 points, or 0.67%; down 0.98 points, or 0.87% from the end of the previous year; down 6.31 points, or 5.34% year-on-year.
In January-February, the CSPI average was 112.30 points, down 4.43 points, or 3.80%, year-on-year.
The prices of long products and plates were all down from the previous year.
As of the end of February, the CSPI long steel index was 114.77 points, down 0.73 points, or 0.63%; the CSPI plate index was 110.86 points, down 0.88 points, or 0.79%. Compared with the same period of the previous year, as of the end of February, the CSPI long steel, plate index fell 9.82 points, 6.57 points, down 7.88%, and 5.59%.
In January-February, the average value of CSPI Long Products Index was 115.14 points, down 7.78 points or 6.33% year-on-year; the average value of Plate Index was 111.30 points, down 4.70 points or 4.05% year-on-year.
The prices of the eight major steel varieties were all down on a year-on-year basis.
At the end of February, China Iron and Steel Industry Association monitored the eight major steel varieties, all varieties of prices were down, including high wire, rebar, angle, plate, hot rolled steel coil, cold rolled steel sheet, galvanized steel sheet and hot rolled seamless pipe prices were down 32 CNY/ ton, 25 CNY/ ton, 10 CNY/ ton, 12 CNY/ ton, 47 CNY/ ton, 29 CNY/ ton, 15 CNY/ ton and 8 CNY/ ton, respectively.
Steel prices in the first two months showed a sustained downward trend.
In January-February, the trend of China's steel composite index continued to decline. After the Spring Festival holiday, market transactions have not yet resumed, coupled with the continued accumulation of inventory and other factors, steel prices have continued to decline trend.
Northwest region steel price index rose slightly from a year earlier.
In February, in the CSPI six regions in China, in addition to the Northwest region steel price index rose slightly from the previous year (up 0.19%), the other regions continue to decline in prices from the previous year. Among them, North China, Northeast China, East China, Central and Southwest China steel price index at the end of February than at the end of January fell 0.89%, 0.70%, 0.85%, 0.83% and 0.36%.
Crude steel output increased slightly, while apparent consumption declined slightly.
According to China's National Bureau of Statistics, in January-February, China's pig iron, crude steel and steel (including duplicates) production were 140.73 million tons, 167.96 million tons and 213.43 million tons, down 0.6%, up 1.6% and 7.9% year-on-year, respectively; the average daily output of crude steel was 2.799 million tons. According to the data released by the General Administration of Customs, in January - February, China exported 15.91 million tons of steel, up 32.6% year-on-year; imports of steel 1.13 million tons, down 8.1% year-on-year. January - February, China's apparent consumption of crude steel equivalent to 152.53 million tons, a year-on-year reduction of 1.95 million tons, a decline of 1.3%.
Steel prices in the international market from rise to fall
In February, the CRU International Steel Price Index was 222.7 points, down 5.2 points, or 2.3%, for the first time after three consecutive months of continuous rise; year-on-year decline of 4.5 points, or 2.0%.
In January-February, the average value of the CRU International Steel Price Index was 225.3 points, down 3.7 points or 1.7% year-on-year.
Steel price indexes in North America and Asia went from up to down, while the European steel index continued to recover.
North American market: In February, CRU North America steel price index was 266.6 points, down 23.0 points, down 7.9%; U.S. manufacturing PMI (Purchasing Managers' Index) was 47.8%, down 0.8 percentage points from the previous year. in February, the U.S. Midwest steel mills kept the long steel prices stable, plate prices from rise to fall.
European market: In February, the CRU European steel price index was 246.2 points, up 9.6 points, or 4.1%; the final value of the euro zone manufacturing PMI was 46.5%, up 0.4 percentage points. Among them, Germany, Italy, France and Spain's manufacturing PMI were 42.5%, 48.7%, 47.1% and 51.5%, in addition to Italy's prices falling slightly, prices in other countries have recovered from the ring. in February, the German market in addition to a small decline in section steel prices, plate and cold-rolled strip prices from falling to rising, and the rest of the varieties of prices are slightly higher.
Asian markets: In February, CRU Asian steel price index was 183.9 points, down 3.0 points from January, down 1.6%, compared with the ring from rise to fall. Japan's manufacturing PMI was 47.2%, down 0.8 percentage points; South Korea's manufacturing PMI was 50.7%, down 0.5 percentage points; India's manufacturing PMI was 56.9%, up 0.4 percentage points; China's manufacturing PMI was 49.1%, down 0.1 percentage points. In February, the Indian market steel varieties, long steel, and plate prices fell steadily.
Post time: Apr-07-2024