At the end of February, China's hot-rolled and cold-rolled steel market continued to run shock, prices rose and fell, trading in general, the current market in March, the National People's Congress to release macro-beneficial information with strong expectations. Into the "Golden Three", hot rolled steel cold rolled steel market will warm up, and steel prices are expected to stop falling.
In the second half of February, the price of HRC Q235B fell by RMB 30/tonne and the price of HRC SPHC fell by RMB 10/tonne in the Shanghai market. During the same period, the price of cold-rolled coil in the Shanghai market was running smoothly, and the price of cold-rolled products was relatively high compared with the price of hot-rolled products.
Overall, in February, China's hot rolled steel plates and steel cold rolled coil market prices in the downward channel. Specific varieties, for example, Anshan Iron and Steel production of 1.0 mm cold plate prices fell from February 1, 4,870 rmb/ton to February 29, 4,820 rmb/ton, a cumulative decline of 50 rmb/ton; Shougang production 5.5 mm hot coil prices fell from February 1, 4,010 rmb/ton to February 29, 3,920 rmb/ton, a cumulative decline of 90 rmb/ton. Meanwhile, in February, production and sales volume in downstream industries declined due to the Spring Festival holiday.
For the March cold, hot rolled coil market sentiment, the "Golden Three" cold rolled and hot rolled market is expected to pick up.
On the one hand, downstream demand is expected to accelerate the release.
In 2024, expanding domestic demand and promoting consumption will remain the focus of economic work. The Ministry of Commerce will determine this year as a "consumption promotion year". The two sessions across the country on the development of the automotive, and home appliance industry to make positive deployment, a series of support for new energy vehicles, green smart home appliances and other bulk consumption policy measures are written into the local government work report. With this year's policy measures to vigorously promote automotive, and home appliance consumption around the ground, automotive, and home appliance production and sales will increase significantly, thus driving the cold rolled carbon steel plate, hot rolled steel sheet demand.
On the other hand, the downstream industry will usher in the production climax.
According to the industry's latest three white power production report shows that in March, China's air conditioning, refrigerator, and washing machine production totalled 36.94 million units, compared with the same period last year, an increase of 17.3% of production performance. Among them, the air conditioner row production of 22.13 million units, compared with the same period last year production performance increased by 25.2%; refrigerator row production of 8.37 million units, compared with the same period last year production performance increased by 8.4%; washing machine row production of 6.44 million units, compared with the same period last year production performance increased by 5.4%. Home appliance manufacturing industry in March row production growth, is expected to pull cold rolled steel sheet in coil, hot rolled coiled steel demand increased, thus supporting the steel prices stronger.
Post time: Mar-11-2024