On February 22, the domestic hot rolled coil market fell slightly. The national average market price was 4,990 RMB/ton, down 0.08% from the previous trading day; the cold-rolled sheet market price stabilized, with the national market average price of 5,566.67, down 0.06% from the previous trading day.
Analysis review
From a macro point of view, the market demand is still shrinking. Purchases were limited on the 22nd, but the general direction of steady growth and development has not changed, and the real estate credit policy has been adjusted in many places to release a positive signal. The news has boosted the market's optimistic expectations.
From the perspective of raw materials, the Winter Olympics are over, steel mills have plans to resume production, and the demand for raw materials has increased. The price of billet rose by 20 RMB/ton on the 22nd, and the coke started a new round of increase, which further increased the support for coil price. However, it should be noted that the optimistic expectations of the resumption of production and demand of steel mills still need to be certified. In the short term, the price is still subject to weak demand, and the driving force is not strong.
Market outlook
On the whole, it is expected that the price of hot coil will fluctuate in the short term.
