Marine plate prices continued to rise significantly after Chinese spring festival
January 22 ~ February 27, the national major Marine plate trading market prices rose significantly. Specifically, on February 27, the average price of a 10-mm Marine plate was 4789 yuan / ton, up 99 yuan / ton from the previous month; the average price of a 20-mm Marine plate was 4671 yuan / ton, up 109 yuan / ton from the previous price .
More than a month, the domestic steel prices Xianyihouyang. Before the Spring Festival holiday, the domestic steel market was in the low-demand period with both supply and demand not active. The first week after the holiday, the domestic spot steel market to achieve a "good start", showing the volume and price rise pattern. My Steel Network statistics, February 26, the domestic steel index (Myspic) Composite Index was 153.68 points, up 2.4% on February 22. Although the total production of Marine plate in 2017 was 5.71 million tonnes, a decrease of 29.8% from the same period of last year, the price of Marine plate also continued to rise under the influence of the spot market.
The surge in steel social stocks contrasted with the trend of steel prices. According to the statistics of China Iron and Steel Association, the average daily crude steel supply in January increased by 4.3% MoM in January. My steel network monitoring showed that on 23 February, steel social stockpiles had risen to 16.16 million tonnes, up 32.6% from February 8 and 20% more than after the Spring Festival in 2017 (February 3). Recent steel social stocks peak or will reach 20 million tons, setting a 4-year high.glenflange
The rise in production and inventories shows the market is optimistic about the expected rise. My steel network expert analysis, January excavator domestic and export sales increased by 135%, car sales were up 14% and 12%, respectively, exports of machinery and electronic products increased 9.4%, so the economy is expected to run smoothly in the first quarter, the downstream steel demand Overall slightly better than a year earlier. However, unexpected growth in inventories has also put pressure on the market late. The domestic steel market supply and demand is still in a basic equilibrium situation, difficult to sharp rise in steel prices, will remain a slight fluctuation trend.