Industry News

Tight resources and rising raw materials, galvanizing prices are rising strongly

Domestic galvanized coil prices expanded this week, and color-coated coil prices fell slightly. The price of galvanized coils rose 70 yuan/ton from last week, and the price of color-coated coils fell 1 yuan/ton from last week. According to data from the General Administration of Customs on November 7, 2020, my country exported 4.039 million tons of steel in October 2020, an increase of 211,000 tons from the previous month and a year-on-year decrease of 15.5%; from January to October, my country’s cumulative steel exports were 44.425 million tons, a year-on-year decrease. 19.3%.

On Monday, the national construction steel transaction volume monitoring data showed that the transaction increased significantly. Specifically, billet prices in Tangshan rose sharply over the weekend, and snails rose strongly during the early opening period. Today, domestic spot market prices generally rose sharply. From the perspective of transactions, today the market has risen significantly, the willingness to purchase downstream has increased, market transactions have been relatively active, and the overall national transaction volume has increased significantly compared with the previous trading day. From the current point of view, downstream projects continue to release the demand for deadlines, and the overall market demand is relatively strong. With the further digestion of inventory, the phenomenon of tight specifications has intensified. In terms of steel mills, due to the high cost of raw materials and the surge in billets and snails, most steel mills are also actively increasing their ex-factory prices. In summary, it is expected that the price of domestic construction steel may fluctuate strongly in the short term.

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