Since the fourth quarter, the quotations in the cold heading steel market have been chaotic, and the overall price rose first and then fluctuated. Due to the expected slight drop in market supply and a slight increase in end market demand, the cold heading steel market may rise slightly in the late fourth quarter.
Since the fourth quarter, the cold heading steel market as a whole rose first and then fluctuated. In November, there was a difference in the trend of the cold heading steel market between the north and the south, and the market fluctuated and consolidated. Specifically:
The market trend of cold heading deviates from the north and the south, and the quotations in November are chaotic
Due to the high supply pressure in the market, steel mills intend to control production and destock in the third quarter. Among them, some steel mills reduced production and maintenance in July, and the monthly output of monitoring sample enterprises dropped to 3.1555 million tons, which was the lowest output in the year except February. The overall output in the third quarter rose first and then increased, but it was still lower than that in the same period of previous years. Since the fourth quarter, some steel mills have reduced production, maintenance, and output has decreased. Among them, the monthly output of sample enterprises in October decreased by 40,000 tons compared with September to about 3.25 million tons. In November, some steel mills continued to reduce production, and the agreement volume was halved. The overall resource circulation is expected to decrease. At the same time, as of mid-November, the inventory of sample enterprises is 164,000 tons, which is 11,000 tons less than the end of the third quarter. The overall supply is expected to drop slightly compared with the end of the third quarter, supporting the market to a certain extent.