BBN STEEL cold rolled coil price will rise 160 RMB per ton in September

Today, the market price of Tianjin cold-rolled sheet and coil continues to run smoothly. According to traders’ feedback, Tianjin’s cold-rolled inventory has been reduced. Traders expressed their reluctance to ship too much. It is expected that market prices will still increase in the later period. In terms of steel mills, BBN STEEL has recently introduced a September futures sales price policy, and the cold rolled coil price has been raised by 160 yuan/ton, and the cold rolled coil spot market may still rise in the later stage. The incomplete specifications of cold-rolled resources in the hands of merchants resulted in prices not following the trend of futures prices.

The quotation of cold-rolled coils in the China cold-rolled sheet and coil market was slightly raised, and market transactions were average. It is reported that inventories in most regions are low. The purchase demand of downstream customers has decreased, and high-priced resources are difficult to trade in market circulation. Therefore, customers who take the spot circulation link will consider lowering prices to ensure a certain shipment volume. Another part of customers said that ordering costs from steel mills remain high. With the increase in procurement costs and strong futures market trends, they are unwilling to lower prices for shipments. On the whole,  the market price of cold-rolled coil on August 14 may still be strong.