Due to the drop in the billet price and the continued downward adjustment of the factory price by the leading steel mills, the spot price of the steel spot market continued to decline on the 17th. After the billet fell by RMB 70/t during the weekend, the billet market once again fell by RMB 50/t yesterday, and the steel market suffered further pressure. At the same time, Anshan Iron and Steel and Shougang today announced the ex-factory prices in August and lowered the prices of medium-thick plates, hot-rolled coils and cold-rolled coils. Among them, the number of hot-rolled coils was similar to that of Baosteel, while the decline in cold-rolled coil prices was narrowed in August due to the large decline in July.

However, today's steel market decline is still relatively large, among which hot rolled coils are among the biggest decliners. On the one hand, the market is expected to have strong price cuts for leading steel mills. On the other hand, yesterday's hot rolled narrow-band market experienced sharp declines, also for hot rolled coils. It's a drag.

According to the price monitoring data, the average price of rebar in 25 major markets across the country fell on the 17th. HRB33512MM rebar average price 4120 yuan / ton, compared with the previous day's price fell 26 yuan / ton, which Hangzhou, Taiyuan market fell the most, for the 50 yuan / ton. The average price of HRB33520MM rebar is 3932 yuan/ton, which is 26 yuan/ton lower than the price of the previous trading day, among which Hangzhou, Wuhan, and Taiyuan have the largest decline, at 50 yuan/ton. HRB40020MM rebar average price of 4054 yuan / ton, compared with the previous day's price fell 24 yuan / ton, of which Hefei, Wuhan market fell the most, for the 50 yuan / ton.

On the 17th, the average price of Q235B3.0mm hot coils in 24 major markets across the country was 4,100 yuan/ton, down by 25 yuan/ton from the previous trading day, of which the Shanghai market dropped by 60 yuan/ton, Hangzhou, Hefei, Fuzhou, Zhengzhou and Tianjin. The market fell by 50 yuan/ton. The average price of Q235B4.75mm hot coil was RMB 3979/ton, which was RMB 31/ton lower than that in the previous trading day. The market price in Taiyuan fell by RMB 80/ton, and the market prices in Hangzhou, Hefei, Fuzhou, Zhengzhou, Tianjin, and Shijiazhuang fell by RMB 50. /Ton.

On the 17th, the average price of the board in the 23 major markets across the country fell significantly. 8mm plate average price of 4293 yuan / ton, compared with the previous trading day down 22 yuan / ton, of which Chengdu fell 60 yuan / ton; 20mm plate average price of 3979 yuan / ton, down 22 yuan over the previous trading day / T, of which Shanghai fell 40 yuan / ton; 20mm low alloy plate average price of 4182 yuan / ton, compared with the previous trading day fell 22 yuan / ton, of which Zhengzhou fell 60 yuan / ton.