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Crazy steel prices

Crazy steel prices

U.S. stocks in the global market closed up across the board. U.S. crude oil rose by more than 1.5%. Domestic futures continued to pull up, and new highs were set in the day. The high level of iron ore provides support for finished products, steel mills are pushing prices strongly, and steel prices continue to rise.

What kind of bear has it risen?

Let's take a look at the overall rise in today's period:

01Futures steel rose above 4600 yuan, and the spot price was raised

Today's steel futures pulled up again and closed a big sun line. The snails rose 153 to close at 4,316 yuan, and the volume rose 178 yuan, breaking through 4600 to reach a high of 4609 yuan. Iron ore led the black series, rising by 6.23%, up 63 yuan to close at 1073.5 yuan, coking coal rose 18.5 yuan to close at 1535.5 yuan, and coke rose 93 to close at 2661 yuan.

In terms of spot, 23 of the 24 markets for rebar increased by 10-150 yuan, and the average price of 20mmHRB400E was 4,181 yuan/ton, an increase of 55 yuan/ton from the previous trading day;

23 of the 24 hot coil markets rose 30-120 yuan, and the average price of 4.75 hot-rolled coils was 4566 yuan/ton, up 56 yuan/ton from the previous trading day.

18 of the 24 markets in the medium board increased by 20-130 yuan, and the average price of 14-20mm common medium board was 4372 yuan/ton, an increase of 44 yuan/ton from the previous trading day.

02Production end: Tangshan Fengrun District increases production limit

Recently, steel production has declined slightly, and environmental protection restrictions in North China have been tightened. Tangshan Fengrun District issued a notice on stricter control on the 17th, requiring stricter control and control from 8:00 on December 18 to 24:00 on December 31. Independent rolling, casting, bricks and tiles Kiln production ceased. If the suspension limit is strictly implemented, the operating rate of the section steel production line may drop significantly, and it is not ruled out that individual section steel products are out of stock, and the price will also be strongly supported.

03Demand side: new car production and sales both increase in November

Recently, the Ministry of Commerce said at a press conference that in November, with the emergence of the automobile consumption promotion policy, the domestic automobile market accelerated its recovery and consumer demand further expanded. In November 2020, the production and sales of new vehicles were 2.847 million and 2.77 million, representing a year-on-year increase of 9.7% and 12.6%. Sales volume achieved double-digit growth for seven consecutive months. The cumulative production and sales from January to November were 22.372 million and 22.47 million, down 3% and 2.9% year-on-year, and the decline was 14 percentage points lower than the first half of the year. At the same time, according to passenger car news, the market expects retail sales of passenger cars in a narrow sense to be 2.315 million in December, an increase of 7.9% year-on-year. The domestic automobile industry has shown a sustained growth trend, which has brought support to the corresponding sheet demand.

04Infrastructure continues to rise

According to statistics from China Construction Machinery Industry Association, in the first November of this year, Chinese companies sold 296,000 excavators, a year-on-year increase of 37%. Excavator sales exceeded 300,000 units for the first time in many years, a record high. From April to November, the year-on-year increase of excavators was as high as 56.3%. At present, the equipment operating rate of construction projects in various places has returned to the level before the epidemic. It reflects the driving force of rigid demand for project construction, and has also become an important support for steel consumption.

05Raw material end: raw materials continue to be strong

According to the National Bureau of Statistics, the domestic iron ore output in November was 75.212 million tons, down 4.09% from the previous month and 3.60% year-on-year; from January to November, the domestic iron ore output was 78.227 million tons, an increase of 2.10% year-on-year. The Platts 62% iron ore index has continuously risen close to US$160. The price of iron ore at domestic ports has generally risen, which has continuously pushed up the cost line of domestic steel mills, and the willingness to keep prices has been further enhanced.

In summary, steel prices have continued to rise, and the raw material end has continued to rise. Iron ore prices have reached a record high today. The black series has led the rise. Spot dealers have raised their quotations. While market transactions are general, the fear of heights is strong, and steel needs to be purchased. From the macro perspective, the central economic work conference is concerned about the deployment of next year's economic work. On the whole, the macro atmosphere is good, the raw material prices are firmly supported, and the steel prices will continue to strengthen over the weekend.