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SunSirs: Hot Rolled Coil Prices Rose Strongly on March 3

March 04 2022 09:22:15&nbsp&nbsp&nbsp&nbsp&nbspSunSirs (John)

Price trend

On March 3, the hot rolled coil market followed with the futures market. The average price of the national hot rolled coil market was 5,228 RMB/ton, up 1.99% from the previous trading day; the national average price of the cold rolled sheet market was 5,603.33 RMB/ton, up 0.12% compared with the previous trading day.

Analysis review

On the 3rd, the quotation of hot rolled coil continued to rise, and the strength of raw materials provided support for finished products. The quotation of Tangshan billet increased by 50%, and the ex-factory price including tax was 4,680 RMB/ton. The price of iron ore rose due to rising transportation costs.

The downstream terminal projects have been started one after another, and the strong demand combined with the rekindling of speculative demand has driven the bullish sentiment in the market. At the same time, due to the turbulent political situation in foreign countries, overseas orders for hot rolled coils have increased significantly.

Affected by the news that some rolling mills on the supply side have limited production and stopped production, steel mills had a strong willingness to support prices, and hot rolled coils tended to be in short supply.

Market outlook

On the whole, the recent hot rolled coils have maintained a strong trend, but whether the rapid speculation can be maintained, it is still needed to pay attention to the demand follow-up.

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