September 23 Steel Price Index

The Myspic Composite Index this week was 172.9 points, a sharp drop of 1.61% from the previous week. This week, the domestic steel spot still maintained a sharp decline. This week, domestic steel spot trading performance remained poor. At the end of last week, the price of domestic billet in Tangshan fell sharply by RMB 80/t. At the same time, the latest price policies of major domestic steel mills also generally declined. Affected by this, the domestic steel market business mentality continues to be weak. Late is not optimistic. In addition, with the continuous tightening of domestic funds, businesses generally feel that the financial pressure has increased, and the willingness to ship cash has increased significantly. Internationally, the debt crisis in Europe has intensified, and the US economy is also worried. This week, the domestic and foreign stock markets have fallen sharply, which has caused the market to worry about the current economic environment. Affected by these factors, the domestic steel spot market continued to drop sharply this week.

The flat product index was 151.1 points this week, down 1.28% from the previous week. Among them, the plate index and hot rolling index fell the most, with a decrease of 1.22% and 1.87% respectively. In the heavy plate market this week, the Beijing market and the Shijiazhuang market saw the most significant decline. This week, the market for the plate in Beijing continued to decline. The market's continuous sluggish sales situation has caused businesses to lose confidence in this year's “Golden 9 Silver 10”. The continued fall in the plus steel forward price made the market expectation very poor. Therefore, local resource prices continued to fall this week, with a relatively large drop. This week, the Shijiazhuang plate market fell sharply. Local leading steel mills and dedicated steel makers lowered their plate prices by RMB 60/t this week. Affected by this, local businesses followed suit, but after the price decline, the market turnover remained unchanged. not ideal. After the price fell faster, it made the market more wait-and-see atmosphere, the downstream customers did not have the purchase intention, but the merchants' enthusiasm for ordering was also very low, the market confidence was overwhelming, the phenomenon of throwing cash out was more obvious, and the price drop was more obvious. This week, the 20mm plate thickness of the Beijing market and the Shijiazhuang market fell by RMB 100/tonne and RMB 110/tonne respectively from last week.

In the hot-rolling market this week, the Nanjing market and the Fuzhou market saw a significant drop. The Nanjing hot-rolling market continued to decline this week. Affected by the sharp decline in the leading markets such as Shanghai and Tianjin, and the continuing low level operation of the domestic steel forward market, this week's Nanjing hot-rolled business offer price decline is also relatively large. Although prices fell sharply, market performance remained poor, and some merchants shipped zero, which caused the market to spread pessimistic sentiment, merchants have a strong desire to ship, and offer prices dropped significantly. This week, the hot rolling market in Fuzhou fell sharply. With the impact of domestic steel billet, forward price and external disk sharp drop this week, the confidence of merchants in Fuzhou hot rolling market suffered a setback earlier this week and the offer price dropped sharply. Currently, the demand terminal does not buy it. Wait and see atmosphere. It is still strong, but because the current price is still upside down, it is very difficult for the downward adjustment quotation to drive demand, and the willingness of the merchants to continue falling will gradually weaken, and the late offer will gradually stabilize and stabilize. This week, the hot rolled 3.0mm market in Nanjing and Fuzhou fell by RMB 130/t from last week.

The long products index was 197.7 points this week, down 1.77% from the previous week. This week, domestic steel futures prices have been greatly dipping, and the spot market has also followed a significant decline, with the Changsha market and the Chongqing market falling sharply. This week, the market for Changsha's long products market has been tumbling. The continuous drop of billets has caused traders to expect further setbacks. Downstream demand during the peak season has made the market more pessimistic for the latter part, and it has sold out more psychologically. Business feedback indicates that the construction progress of key projects is currently slowing, and material suppliers mostly stop supplying due to default on payment, resulting in sporadic purchases on the market. In real estate, construction slows down and demand shrinks gradually. Under the combined external environment and weak demand, local quotations fell significantly. This week, the long products market in Chongqing declined significantly. This week's performance of the Chongqing long products market has always been deserted, and there have been difficulties in the return of merchant funds. Coupled with the continuous default of end-users, the sales pressure of businesses has become increasingly prominent. In addition, from the perspective of the overall construction steel arrival in Chongqing, the stocks of wire rods and tertiary rebar continue to increase, which is in stark contrast to the weak demand. Business mentality is low in quarters, so this week’s callback is clear. This week, the HRB335 20mm thread in Changsha market and Chongqing market fell by 190 yuan/ton and 180 yuan/ton respectively compared with the previous trading day.