In December 2022, the dilemma of rising and falling steel prices and waiting for the turning point

In December 2022, the dilemma of rising and falling steel prices and waiting for the turning point

The ancients said: the troops and horses are not moving, and the food and grass are first. Driven by the strong expectation of domestic macro benefits, the prosperity of the real estate industry has not yet rebounded, and steel prices have “skyrocketed”.
Iron ore, as the leader of this round of market, led the black commodity futures prices to continue to “attack the city and remove the stronghold”. Since the beginning of November, the main contract price of iron ore futures has risen by more than 35%, coke by more than 22%, deformed steel by more than 20%, and hot coil by more than 21%.
In terms of spot steel, the average price of rebar in China rose from 3750 yuan/ton to 4105 yuan/ton, the average price of hot coil from 3780 yuan/ton to 4160 yuan/ton, and the price of cold rolled sheet from 3980 yuan/ton to 4590 yuan/ton.