Steel closing market on August 5th

Futures market

Threaded steel 2610: Closing price of 2990 yuan/ton,+0.23%
Hot coil 2610: Closing price of 3207 yuan/ton
Iron ore 2609: Closing price of 706 yuan/ton
Coke 2609: Closing at 1797.5 yuan/ton, strong upward trend
Coking coal 2609: Closing at 1232 yuan/ton, with the highest increase
The market showed a technical recovery rebound after oversold, driven by the strengthening of raw materials, and the medium-term bearish trend did not reverse, belonging to a low-level oscillation recovery market.

Spot reference

National average price of 20mm grade 3 rebar: 3214 yuan/ton,+1 yuan/ton
National average price of hot coils (4.75mm): 3248 yuan/ton, -2 yuan/ton
Tangshan plain billet: 2930 yuan/ton, increased by 10 yuan/ton
The overall market is fluctuating, with slight fluctuations in some cities and stable prices in most regions.

Transaction&Supply and Demand

Mainstream traders traded 91000 tons of construction steel, with a slight decrease compared to the previous period. During the high temperature and off-season, terminal purchases were cautious and mainly focused on on-demand procurement, with weak willingness to actively replenish inventory.
The maintenance of steel mills has increased, but the overall supply of circulating goods is still abundant; Traders are cautious in their mentality, and some inventory levels are high, resulting in a hidden decrease in resources and discounted shipments.