In the first week of New Year 2019, domestic steel price declines narrowed

With the performance of the relevant futures market improving, the domestic spot steel market has narrowed its decline since the opening of the New Year in 2019, and the turnover has improved at relatively low prices.



In the first trading week after New Year Day in 2019, the domestic spot steel price composite index closed at 140.24 points, down 0.88% from the previous trading week. Specifically, the relevant futures market first restrained and then rose, and by the end of the weekend, threaded steel futures rose more significantly than before the festival. Spot steel market as a whole is still showing a weakening trend of shock, but the decline began to slow down, low turnover improved.



According to the analysis, in the construction steel market, prices fell slightly. The average price of the main specification screw steel varieties in the main market of China is 3930 yuan per ton, down 47 yuan per week. According to the latest inventory data, under the condition of slight decline in the output of threaded steel and the weakening demand, both social inventory and steel plant inventory show a trend of cumulative increase.



In the plate market, the price is generally weak. Hot-rolled coil prices fell slightly. The average market price of hot-rolled products of mainstream specifications in the main markets of the country was 3734 yuan per ton, down 33 yuan per week. Medium and heavy plate prices fell slightly. The average price of the mainstream standard medium plate in the major markets of the country was 3836 yuan per ton, down 11 yuan per week. At present, the market confidence is weak, business operations are mainly active shipment, winter storage willingness is low.



According to the analysis of relevant institutions, the supply and demand fundamentals of spot steel market are still in two weak states. As the year draws near, terminal demand will shrink further, and the market price will continue to be mainly weak in the short run.