Lange Construction Steel Weekly Inventory: The market price is stable and weakening, and the overall transaction demand is weak
Billet snail price difference: Taking the Beijing market as an example, on November 25, the basic price difference between the base price of Hegang’s threaded thread of 3,670 yuan and the steel billet of 3,540 yuan was 130 yuan, a decrease of 0 yuan from the previous trading day.
Futures basis difference: Taking the Hangzhou market as an example, the basis difference between the base price of Zhongtian screw thread at 3,800 yuan on November 25 and the closing price of the main futures screw at 3,736 yuan was 64 yuan, a decrease of 35 yuan from the previous trading day.
Spot market situation: This week (11.21-11.25) the domestic construction steel market prices are stable and weakening.According to the market monitoring of the Lange Iron and Steel Information Research Center, as of November 25, the average price of the domestic Φ6.0mm high wire was 4411 yuan, a decrease of 29 yuan from last week;RebarThe price is 3870 yuan, down 36 yuan from last week. The total inventory of domestic building materials decreased week-on-week. As of the 25th, the total inventory of construction steel in key cities across the country was 3.7898 million tons, a decrease of 116,100 tons from last week, a decrease of 2.98% week-on-week, and a year-on-year decrease of 16.31%.
In terms of news this week, Lange released the latest issue of “Danger Street Production Trend Table” in China. This week, the price of finished products in Tangshan area fluctuated relatively strongly, and the losses of long-process steel mills increased compared with last week. In terms of data, according to the statistics of the State-owned Assets Supervision and Administration Commission, from January to October 2022, central enterprises will realize operating income of 32.3 trillion yuan, total profit of 2.2 trillion yuan, and net profit of 1.7 trillion yuan, a year-on-year increase of 9.9%, 4.7%, and 3.9% respectively. %. According to statistics from the China Shipbuilding Industry Association, from January to October 2022, 30.87 million deadweight tons of shipbuilding were completed nationwide, a year-on-year decrease of 3.6%. According to statistics from the China Iron and Steel Industry Association, the average daily pig iron output of key steel companies in mid-November 2022 was 1.8133 million tons, an increase of 0.23% month-on-month and a year-on-year increase of 12.8%. In mid-November 2022, the steel inventory of key iron and steel enterprises was 17.3001 million tons, an increase of 578,300 tons or 3.46% month-on-month. In addition, the overall PMI index of the iron and steel circulation industry in November 2022 released by the statistics of Lange Iron and Steel Network was 47.9%, an increase of 0.1 percentage points from the previous month, and slightly stabilized in the contraction range. Due to the mutual influence of frequent outbreaks of the epidemic and the release of demand for rush work, the effect of the alternation of peak and peak seasons is more obvious.
From a fundamental point of view, the inventory of construction steel products in key cities across the country has decreased this week compared with last week. Among them, the decline in East China was relatively large, with a week-on-week decrease of 55,400 tons; the Northeast area decreased by 28,400 tons week-on-week; North China and Central South regions increased by about 4,000 tons week-on-week. This week, the spot price is stable and weakening, and the release of downstream demand is generally weak. On the one hand, the epidemic is spreading in central cities in various regions of the country, and control measures have been upgraded; second, the temperature in the north is gradually getting colder, and demand is gradually shrinking; third, the current spot price is relatively high, and merchants are not willing to store winter storage. At present, the epidemic situation continues to spread, and the market is in a wait-and-see period. It is expected that the domestic construction steel market may fluctuate next week.
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