Steel closing market on August 6th

Futures market

Threaded steel 2610: closing price of 3012 yuan/ton,+0.74%
Hot coil 2610: closing at 3233 yuan/ton, slightly up
Iron ore 2609: closing at 724 yuan/ton,+2.57%, significant increase
Coke 2609: Closing at 1846 yuan/ton,+2.70%, led by strong gains on the raw material side. Tonghuashun Finance
Coking coal 2609: closing at 1254 yuan/ton, synchronously strengthening
The black series rebounded at a low level throughout the day, driven by dual focus and iron ore, and the market rebounded. The thread reached the 3000 mark, which belongs to the cost driven repair after oversold. Mid term demand constraints still exist.

Spot reference

National average price of 20mm grade III rebar: 3231 yuan/ton,+17 yuan/ton
National average price of hot coils (4.75mm): 3266 yuan/ton,+18 yuan/ton
Tangshan plain billet: 2950 yuan/ton, increased by 20 yuan/ton
The mainstream market prices across the country have generally followed suit, with some regions raising prices by 10-30 yuan, and the mentality of traders has rebounded.

Transaction&Supply and Demand

Mainstream traders traded 106000 tons of construction steel, showing a significant rebound from the previous day, with a slight increase in speculative purchases, and the terminal still follows the on-demand procurement model.
The production of molten iron has fallen for four consecutive weeks, the scope of losses for steel mills has expanded, and the maintenance of blast furnaces continues to increase; The overall inventory of finished products is slowly decreasing, but the absolute inventory level is still relatively high.
Coal mine safety supervision and rainfall disturbance affect the supply of coking coal, leading to tight supply of raw materials and supporting the strengthening of coal and coke prices