Steel market today, August 28th

Futures market (closing)

Main force of rebar: 3109 yuan/ton,+32, up 1.04%, range 3081-3129
Hot coil main force: 3364 yuan/ton,+22, up 0.66%, with a fluctuating and strengthening market
Raw material end: The main coke price is 2150 yuan/ton, with a significant increase; Narrow fluctuations in iron ore continue to strengthen cost support
Spot reference (mainstream market)

HRB400E rebar mainstream: 3095-3120 yuan/ton, mostly increased by 10-20 yuan/ton in most regions
Q235B hot coil mainstream: 3355-3380 yuan/ton, quotation follows the rise of the market
Steel billet: 3090 yuan/ton, including tax, out of stock, price increases
Transaction supply and demand

The strong futures market has led to an increase in spot prices, and expectations for the peak season of gold continue to rise in the market. The high temperature weather is gradually subsiding, and some construction sites have slightly resumed work. However, downstream procurement is mainly for essential needs, and large-scale stocking has not yet started, resulting in average overall transaction performance. Steel mills have a strong mentality of raising prices, and overall social inventory remains low. The increase in raw material prices has formed a bottom support for steel prices.