Lange Construction Steel Weekly Inventory: Market Price Fluctuations Weakening, Transactions Generally Average
Billet price difference: Taking the Beijing market as an example, on May 13, the basis difference between the base price of HBIS 4880 yuan and the billet 4660 yuan was 220 yuan, which was 30 yuan narrower than the previous trading day.
Futures basis: Taking the Hangzhou market as an example, the basis difference between the base price of Zhongtian thread at 4840 yuan and the closing price of the main future thread at 4670 yuan on May 13 is 170 yuan, which is 48 yuan narrower than the previous trading day.
Spot market situation: This week (5.9-5.13) the domestic construction steel market price fluctuated and weakened.According to the market monitoring of Lange Iron and Steel Information Research Center, as of May 13, the average domestic price of Φ6.0mm high line was 5,246 yuan (ton price, the same below), down 89 yuan from last week; domestic Φ25mm three-levelRebarThe price is 4922 yuan, down 113 yuan from last week. The total inventory of domestic building materials has decreased month-on-month. As of the 13th, the total inventory of construction steel in key cities across the country was 9.4438 million tons, a decrease of 292,800 tons from last week, a decrease of 3.01% from the previous week, and a decrease of 8.74% from the same period last month.
In this week’s news, according to data from the National Bureau of Statistics, in April 2022, the national ex-factory price of industrial producers rose by 8.0% year-on-year and 0.6% month-on-month; the purchase price of industrial producers increased by 10.8% year-on-year and 1.3% month-on-month. In April 2022, the national consumer price rose by 2.1% year-on-year. Among them, urban prices rose by 2.2%, rural areas rose by 2.0%; food prices rose by 1.9%, non-food prices rose by 2.2%; consumer prices rose by 3.0%, service prices rose by 0.8%. Lange releases the latest issue of Downtown Production Trends. The epidemic still disturbs the Tangshan area to a certain extent, and some areas are silent. On the whole, the fundamentals such as logistics management and control have not been fundamentally improved. According to local policies, special passes are still required for raw material procurement and finished product transportation, and local steel mills maintain normal production. In terms of data, according to statistics from China Construction Machinery Industry Association, in April 2022, 22 loader manufacturers sold 10,975 loaders of various types, a year-on-year decrease of 40.2%; in April 2022, 26 excavator manufacturers sold various types of loaders. There are 24,534 sets of excavators, a year-on-year decrease of 47.3%; according to statistics from the General Administration of Customs of the People’s Republic of China, in April 2022, my country imported 23.549 million tons of coal and lignite, a year-on-year increase of 8.4%; from January to April, my country imported coal and lignite Lignite was 75.406 million tons, a year-on-year decrease of 16.2%. In April 2022, my country exported 4.977 million tons of steel, a year-on-year decrease of 37.6%; from January to April, my country exported 18.156 million tons of steel, a year-on-year decrease of 29.2%. In addition, according to statistics from the China Iron and Steel Association, in the first ten days of May 2022, the steel inventory of key iron and steel enterprises was 18.7485 million tons, an increase of 659,800 tons or 3.65% month-on-month; the average daily output of pig iron in key steel enterprises in early May 2022 2.0317 million tons, a ten-day decrease of 0.47% month-on-month and a year-on-year decrease of 1.44%;
From a fundamental point of view, the inventory of construction steel in key cities across the country has declined this week, and the reduction in inventory is average. Among them, the East China region decreased by 100,300 tons, and the central and southern regions decreased by 55,900 tons. Among them, the Southwest and North China regions decreased by about 40,000 tons week-on-week. The spot price fluctuated and weakened this week, and the overall downstream demand release was weak. On the one hand, coal at the raw material end has been lifted in two rounds, and the cost of finished products has dropped; second, the current epidemic prevention and control is relatively strict, and the construction progress in various regions is hindered; third, the profits of steel mills are meager, and short-term steel companies in some areas are in a state of loss. In the later stage, we should focus on the adjustment direction of steel mills and the changes in epidemic prevention and control policies in various regions. Based on the above analysis, it is expected that the domestic construction steel market may fluctuate at a high level next week.
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