Tianjin Strip Steel: Tianjin hot-rolled strip steel prices weakened on the 11th. As of press time, the hot-rolled strip market in Tianjin is quoted at 3,710-3,730 yuan/ton for products below 2.5*360mm, and 3,690-3,720 yuan/ton for products above 3.5*685mm, both including tax.
When the market opened today, the market price of hot-rolled strip steel in Tianjin dropped by 20 yuan/ton, and the overall transaction volume was not smooth. During the Dragon Boat Festival holiday, most downstream pipe factories arranged holidays, and the market trading atmosphere was deserted. After the Dragon Boat Festival holiday, market demand continued to be weak in the early stage, and the overall transaction volume was poor. At present, the costs of downstream pipe factories are slightly upside down, raw material inventories remain at low levels, and the delivery speed is slow. However, the current cost of steel mills remains at the edge of the cost line, which still supports steel prices.
To sum up, it is expected that the market price of hot-rolled strip steel in Tianjin may weaken within a narrow range in the short term.
Post time: Jun-11-2024