CSPI China steel price index weekly report
During the week of April 22nd to April 26th, domestic steel prices experienced a moderate rebound, marking the third consecutive week of increase. Both long and flat steel prices showed signs of recovery.
The China Steel Price Index (CSPI) for the week stood at 106.78 points, with a weekly increase of 0.17 points, representing a 0.16% rise from the previous week. Compared to the end of the previous month, it rose by 1.51 points, indicating a 1.43% increase. However, compared to the end of last year, it decreased by 6.12 points, reflecting a decline of 5.42%, and decreased by 4.38 points compared to the same period last year, showing a 3.94% decrease. Specifically, the long steel price index was 109.40 points, with a weekly increase of 0.29 points, or 0.27%. Compared to the end of the previous month, it increased by 3.36 points, or 3.17%. However, compared to the end of last year, it dropped by 6.71 points, or 5.78%, and compared to the same period last year, it decreased by 4.63 points, or 4.06%. The flat steel price index was 104.98 points, with a weekly increase of 0.09 points, or 0.09%. Compared to the end of the previous month, it rose by 0.47 points, or 0.45%. However, compared to the end of last year, it decreased by 6.82 points, or 6.10%, and compared to the same period last year, it decreased by 7.34 points, or 6.53%.
Haihao Group
In terms of individual varieties, compared to the end of the previous month, prices of the eight major steel varieties showed both increases and decreases. Among them, wire rods and rebar prices increased, while prices of other varieties decreased. Rebar saw the largest increase, while medium plate saw the largest decrease. Specifically, the price of 6mm wire rods was 3948 yuan/ton, up 158 yuan/ton from the end of the previous month, an increase of 4.17%. The price of 16mm rebar was 3678 yuan/ton, up 160 yuan/ton from the end of the previous month, an increase of 4.55%. The price of 5# angle steel was 3910 yuan/ton, up 26 yuan/ton from the end of the previous month, an increase of 0.67%. The price of 20mm medium plate was 3905 yuan/ton, down 14 yuan/ton from the end of the previous month, a decrease of 0.36%. The price of 3mm hot-rolled coil was 3934 yuan/ton, up 53 yuan/ton from the end of the previous month, an increase of 1.37%. The price of 1mm cold-rolled sheet was 4478 yuan/ton, down 30 yuan/ton from the end of the previous month, a decrease of 0.67%. The price of 1mm galvanized sheet was 4956 yuan/ton, down 20 yuan/ton from the end of the previous month, a decrease of 0.40%. The price of 219mm × 10mm hot-rolled seamless pipe was 4782 yuan/ton, up 36 yuan/ton from the end of the previous month, an increase of 0.76%.
From the cost perspective, according to data from the General Administration of Customs, the average price of imported iron ore was $125.96/ton, down $5.09/ton from the previous month, a decrease of 5.09%. Compared to December 2023, it increased by $2.70/ton, or 2.19%, and compared to the same period last year, it increased by $8.26/ton, or 7.02%. The price of domestic iron concentrate was 955 yuan/ton, down 6 yuan/ton from the end of the previous month, a decrease of 0.62%. Compared to the end of last year, it decreased by 155 yuan/ton, or 13.96%, and compared to the same period last year, it decreased by 9 yuan/ton, or 0.93%. The price of coke (grade ten) was 2008 yuan/ton, up 80 yuan/ton from the previous month, an increase of 4.15%. Compared to the end of last year, it decreased by 585 yuan/ton, or 22.56%, and compared to the same period last year, it decreased by 10 yuan/ton, or 0.50%. The price of coke was 1929 yuan/ton, up 137 yuan/ton from the end of the previous month, an increase of 7.65%. Compared to the end of last year, it decreased by 525 yuan/ton, or 21.39%, and compared to the same period last year, it decreased by 407 yuan/ton, or 17.42%. The price of scrap steel was 2846 yuan/ton, up 96 yuan/ton from the end of the previous month, an increase of 3.49%. Compared to the end of last year, it decreased by 143 yuan/ton, or 4.78%, and compared to the same period last year, it decreased by 179 yuan/ton, or 5.92%.
During the week, steel prices continued to rebound for the third consecutive week, while social and enterprise inventories notably decreased. This indicates that the previous self-discipline production control and destocking efforts by enterprises have been effective, providing a solid foundation for the stable recovery of the steel market. The decline in crude steel production in March alleviated supply-demand contradictions to some extent. In the future, with the continued recovery of steel consumption demand, it is expected that the steel market will operate with a strong upward trend.