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Steel price in market dated on 3 March 2021
2021-03-04
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Today's steel market prices have risen sharply across the board. According to the data monitored by the Steel House website: the mainstream quotation of tertiary rebar in 28 major domestic markets is 4,710 yuan, an increase of 85 yuan from the previous day; the mainstream quotation of medium and heavy plates is 4949 yuan, an increase of 79 yuan from the previous day; the mainstream quotation of hot-rolled coils is 4982 Yuan, up 116 yuan from the previous day; the mainstream quotation of cold-rolled coils was 5,686 yuan, up 72 yuan from the previous day.

Yesterday, Tangshan City issued the "March Air Pollution Comprehensive Management Tackling Month Plan". The document requires that Yanshan Iron and Steel, Tangshan Iron and Steel, Huaxi Iron and Steel, and Rongxin Iron and Steel be shut down before March 10, a total of 7 450 cubic meters of blast furnaces. Shut down all production equipment of Xinbaotai Iron & Steel. It is understood that among the 7 blast furnace equipment mentioned in the document, 4 blast furnaces have been stopped. Of the two coking companies, Hong Kong and Mainland coking have not shut down, involving 1 million tons of coking production capacity. In terms of total amount, the impact of supply and demand is limited, but the document mentions that Tangshan City will reduce overall emissions by 45% in March, which may significantly inhibit subsequent production.

The introduction of policies is good for the market. In addition, "carbon neutrality" is expected to heat up, and the source ensures that crude steel output is compressed, or supply reduction, which continues to boost market sentiment. Affected by this, Tangshan General Carbon billet continued to raise its quotations this morning, with a cumulative increase of 120 yuan in a single day. Demand continues to recover recently, merchant shipments have begun to improve, and the market transaction atmosphere is ideal. The national "two sessions" will be held soon, and we will continue to pay attention to the policies of the "two sessions" and the iron and steel industry policy.

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