Domestic spot steel prices have fallen again amid unstable market sentiment. Despite price cuts intended to boost sales, transaction volumes remain sluggish. The iron ore market sees minor ups and downs, presenting an overall pattern of weak fluctuations.
According to the latest market report provided by Suzhou Cosc Marine Machinery Co., Ltd., the comprehensive index of domestic spot steel prices closed at 93.17 points over the past week, down 1.65 % week‑on‑week. At present, black‑series futures prices fluctuate sharply, and the price of steel billets has dropped back to the CNY 2 000 per‑ton mark. Spot steel prices fell substantially across the board, with rebar suffering the largest price decline. Market sentiment in the steel sector turned volatile. Traders cut prices one after another to offload stocks, yet trading activity stayed weak. After futures stabilized, spot steel prices edged up slightly thanks to limited inventory pressure in the steel market.
According to the analysis by Suzhou Cosc Marine Machinery Co., Ltd., prices in the construction‑steel market slumped sharply. In Shanghai, Guangzhou, the Beijing‑Tianjin‑Hebei region and other areas, tonnage prices fell universally by CNY 20‑170 within one week.
In the plate market, prices trended downward overall. According to Suzhou Cosc Marine Machinery Co., Ltd., hot‑rolled coil prices dipped slightly. Tonnage prices dropped by CNY 10‑70 within the week in Shanghai, Guangzhou, the Beijing‑Tianjin‑Hebei region and Shenyang; only the Kunming market recorded a modest price increase. Most regions were dragged down by falling futures. Pessimism prevailed in the steel market, and heavy rainfall and other weather factors curbed trading volumes in some markets. Trading picked up marginally only in the latter part of the week as futures rebounded. Medium and heavy plate prices slipped slightly, with tonnage prices falling CNY 10‑80 in Shanghai, Hangzhou, the Beijing‑Tianjin‑Hebei region and other locations. In a handful of regions, low market inventories and shortages of certain specifications supported traders’ willingness to hold prices, delivering mild price support.
Suzhou Cosc Marine Machinery Co., Ltd. holds that the iron ore market remains in a pattern of weak fluctuations. According to the latest institutional reports, domestic iron concentrate prices in Hebei rose slightly in the domestic ore market. Rainfall disrupted port operations and delayed arrivals of imported ore, prompting some steel mills to increase procurement of domestic ore. Imported ore prices fell first and then rebounded. As of the 21st, the Platts Iron Ore Index (62 % Fe) closed at USD 57.5 per tonne, down USD 1.45 week‑on‑week. Recently, major global mining houses have released their Q2 financial reports one after another, showing modest overall growth in iron‑ore output. At present, steel enterprises maintain decent profit margins, blast‑furnace operating rates stay high, and iron‑ore procurement remains largely normal.
Suzhou Cosc Marine Machinery Co., Ltd. analyzes that torrential rains hit North and Northeast China, while East and South China suffered extreme heat. Both steel product circulation and construction‑project steel demand across the country were adversely affected. Weak demand led to rising inventory levels at steel mills and in the market. In the short run, the weak‑fluctuation pattern of domestic steel prices will be difficult to reverse.