Price forecast of hot rolled steel materials this week

On May 22, the average price of 4.75mm hot rolled steel coil (3401, - 50.00, - 1.45%) in 24 major cities in China was 3668 yuan / ton, up 124 yuan / ton on a weekly basis. At present, the two sessions are being held, and the market is more cautious and wait-and-see attitude. With the support of continuous decline in inventory, there is little room for hot rolled steel coil price to fall, but the lack of sustained release of demand, and the price rise is also restrained. It is expected that the price of hot rolled steel coil will keep fluctuating this week.

On May 22, the average price of 20 mm medium hot rolled steel plate in 24 major cities in China was 3817 yuan / ton, up 73 yuan / ton on a weekly to ring basis. From late April to now, the demand of the medium hot rolled steel plate has experienced a rapid recovery, dealers and terminals replenish or complete in stages. Whether the demand can continue to be maintained in late May remains to be tested. With the arrival of import resources in June, the price pressure of the medium hot rolled steel plate remains in the later stage. It is expected that the spot market will be put into full operation this week.