On July 23, domestic steel prices experienced a steady upward trend, with some markets seeing slight declines of around RMB 10-20 per ton. As of yesterday, the lowest price for 20mm third-grade rebar in the North China market was offered at 3,410 yuan per ton, while in East China's Hangzhou and Nanjing markets, it was quoted at 3,470 yuan per ton. In North China, 20mm Puan steel reached as high as 3,470 yuan per ton in Shijiazhuang, while Hangzhou and Nanjing saw prices at 3,630 yuan per ton. The average price for 20mm HRB400 rebar in the mainstream market stood at 3,573 yuan per ton, up by 5 yuan from the previous day. Meanwhile, the average price for 20mm plate was 3,646 yuan per ton, also rising by 5 yuan. The average price for 4.75mm hot-rolled coils was 3,639 yuan per ton, up 9 yuan from the previous trading day, while the 5# angle iron averaged 3,573 yuan per ton, down 3 yuan.
The news surface shows that banks have intensified credit supervision over the steel industry and ten other sectors. According to reports from “Shanghai Securities Decision,†regulators issued an internal notice prohibiting new bond issuances for nearly 10 industries with overcapacity, including cement, steel, iron, chemical fiber, electrolytic aluminum, and coal. These industries are also restricted from using short-term securities, medium-term notes, convertible bonds, or new corporate bonds. Additionally, companies willing to voluntarily halt production may be eligible for partial interest relief or assistance in converting production. Industry sources indicate that these restrictions have been in place for years, but recent regulatory scrutiny appears significantly tighter compared to earlier guidelines this month.
On the cost side, this morning, Tangshan 150 billet was reported at 3,100 yuan per ton. Shagang raised its building materials price by 100 yuan per ton, while several manufacturers such as Siping Hyundai, Anyang Industrial, Bayi Steel, Zhengzhou Special Steel, Nangang, Shuigang, Guangzhou Steel, Pinggang, Jigang Wuyuan, Fujian Sanbao, Shiheng Special Steel, Lai Steel Yongfeng, Zhongtian Iron and Steel, and Yonggang increased their prices by 10-150 yuan per ton. Handan Iron & Steel raised building materials and plate prices by 160-270 yuan per ton in August, and Hegang adjusted its August policy by 50-150 yuan per ton. Meishan Steel and Bagang Steel also raised prices by 50-150 yuan per ton in August. Overall, manufacturers’ attitudes toward price increases in August remain strong, indicating continued support for steel prices in the short term.
Looking at the futures market, the main contract for rebar, Rb1401, opened lower at 3,694, closed at 3,678, down 16 points. Due to negative early-morning sentiment, the downward pressure on rebar became more evident, but there was a wait-and-see attitude among traders, with limited downside momentum. The contract closed near the 10-day moving average, suggesting a potential rebound today.
From the demand side, end-user demand remained normal, and market volume was stable. Merchants maintained a cautious stance, supported by rising costs.
Overall, with the full-scale upward adjustments from manufacturers like Hegang, Meishan Steel, Bayi Steel, and Handan Iron & Steel, along with recent policy revisions from Shagang and Yonggang, the current cost support for steel prices is clearly strong. Merchants remain optimistic, expecting a continued upward trend. However, attention should be paid to the fact that after the recent sustained price rise, terminal demand is not as strong as before. There could be a period of consolidation or minor corrections later this week. Today, the average rebar price in the mainstream market is expected to adjust between 0 and 10 yuan per ton, with 20mm third-grade rebar fluctuating between 3,570 and 3,580 yuan per ton. Plate prices are likely to remain stable, with the 20mm plate averaging between 3,650 and 3,660 yuan per ton.
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Office Workstations
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