Anticipated Price Movement for Hot Rolled Steel And Cold Rolled Steel in Near Future
2024-07-15 09:34:20
China's cold rolled steel coil and hot rolled steel coil market showed a slight downward trend in the past June, with weak demand and lower steel prices.
![cold rolled steel coil](https://ecdn6.globalso.com/upload/p/1634/image_other/2024-07/1700032594341.jpg)
First, cold rolled plate and hot rolled plate demand is expected to improve.
Recently, automotive, home appliances and other manufacturing industries production and sales are still in good condition, cold rolled sheet steel, hot rolled carbon steel coil demand has a certain degree of resilience. Passenger car market information association statistics show that in early and mid-June, China's passenger car market retail volume reached 1,087,000 units, an increase of 2%; passenger car manufacturers wholesale volume reached 1,169,000 units, an increase of 11%; new energy vehicle market retail volume reached 534,000 units, an increase of 7%. Since the beginning of this year, the retail volume of China's passenger car market has reached 9.16 million units, up 3 per cent year-on-year; the wholesale volume of passenger car manufacturers has reached 10.753 million units, up 6 per cent year-on-year; and the retail volume of the new energy vehicle market has reached 3.789 million units, up 32 per cent year-on-year.
In terms of home appliances, the recent home appliance manufacturing production increased overall.
According to the industry agencies released three white power production report shows that in July, China's air conditioning, refrigerator, washing machine production reached 30.34 million units, compared with the same period last year production performance increased by 0.5%. Among them, the air conditioning output reached 16.53 million units, an increase of 0.4% over the same period last year; refrigerator output reached 7.7 million units, an increase of 1.7% over the same period last year; washing machine output reached 6.11 million units, a decline of 0.8% over the same period last year.
It is expected that in July automobiles, home appliances and other manufacturing industries on the cold rolled carbon steel plate and hot rolled carbon steel plate demand will improve, in favour of cold, hot rolled coil prices to stop falling.
Due to the previous period of steel prices fell shockingly, the profit of iron and steel enterprises contracted significantly, part of the enterprise into a loss-making state. National Bureau of Statistics data show that in the first five months of this year, the steel industry loss narrowed to 12.72 billion yuan. Affected by this, steel enterprises to limit production increased. China Iron and Steel Industry Association data show that in mid-June, the average daily crude steel production of key statistical iron and steel enterprises reached 2,185,100 tonnes, a decline of 2.81% month-on-month, down 3.43% year-on-year.
![hot rolled steel coil](https://ecdn6.globalso.com/upload/p/1634/image_other/2024-07/8de598dad85a2eb32470e7d6d2c2ba9.jpg)
Thirdly, the rigid cost support for steel prices is still strong.