Steel market on August 24th

Futures market (closing)

Main force of rebar: 3066 yuan/ton,+28, up 0.92%, range 3034-3076
Hot coil main force: 3340 yuan/ton,+49, up 1.49%, range 3284-3348
On the raw material side, the main force of coke has significantly increased, and coke enterprises have launched a second round of price hikes. Iron ore has slightly followed suit, and cost support has been further strengthened
Spot reference (mainstream market, excluding Suqian)

HRB400E threaded steel mainstream: 3050-3075 yuan/ton
Q235B hot coil mainstream: 3320-3345 yuan/ton
Steel billet: 3000 yuan/ton, increased by 10 yuan/ton for operation
Transaction supply and demand

Stimulated by the news of rising raw material prices, spot prices have generally increased, and the market's bullish sentiment has heated up. Speculative buying has increased, but actual demand at the terminal remains weak, resulting in a slight rebound in overall transactions compared to the previous day. The steel mills have a firm attitude towards raising prices, and social inventory remains at a low level.