In today's domestic steel market, prices saw a slight slowdown in their decline, driven by the positive momentum from the previous day. Some regions experienced minor price increases in certain steel products, although trading volumes remained weak. This indicates that the steel market is still struggling to rebound. Just one trading day after a brief recovery, the market faced another round of volatility, testing the patience of steel traders.
According to data from the National Bureau of Statistics, China's average daily crude steel production in April 2014 reached 2,229,700 tons, up 1.26% from March and hitting a record high. The growing imbalance between supply and demand has further weakened an already sluggish steel market. Meanwhile, slowing growth in fixed asset investment and real estate activity signals weak downstream demand, making it increasingly difficult for steel producers to operate profitably. We continue to expect a weak and volatile market environment.
On May 13, domestic construction steel prices continued to fall, with hot-rolled coil prices showing slight stabilization and plate prices remaining steady. Here are the detailed price movements:
**Construction Steel:**
- 12mm HRB400 rebar averaged 3,442 yuan, down 20 yuan from yesterday.
- 20mm HRB400 rebar averaged 3,292 yuan, down 19 yuan from Monday.
- 6.5mm HPB300 wire averaged 3,415 yuan, down 5 yuan from Monday.
- 8mm high line averaged 3,403 yuan, down 5 yuan from yesterday.
**Hot-Rolled Coils:**
- 3.0mm hot-rolled coils averaged 3,497 yuan, up 1 yuan from yesterday.
- 4.75mm hot-rolled coils averaged 3,428 yuan, down 2 yuan from yesterday.
- 5.75mm hot-rolled coils averaged 3,360 yuan, unchanged from yesterday.
**Medium Plates:**
- 8mm Puzhong plate averaged 3,786 yuan, up 1 yuan from yesterday.
- 20mm Puzhong plate averaged 3,500 yuan, stable compared to yesterday.
- 20mm low alloy medium plate averaged 3,663 yuan, unchanged from yesterday.
**Price Adjustments:**
- Fushun Steel in Dalian maintained its new threading price but reduced high line prices by 20 yuan.
- Guiyang implemented price cuts of 80 yuan for three-grade rebar and plate screws.
- Shanxi Jinshan lowered rebar prices by 30 yuan.
- Pancheng Steel reduced wire rod execution prices by 50 yuan in several cities, while coiled screw prices dropped by 30 yuan.
- Pangang Steel cut rebar prices in Chengdu, Kunming, and Panzhihua by 50 yuan.
- Shanxi Jianbang reduced coiled screw ex-factory prices by 40 yuan and rebar prices by 30 yuan.
- Siping HRP 400 rebar prices in Changchun fell by 10 yuan, while markets in Harbin, Shenyang, and Dalian remained stable.
Additionally, Tongzhou Fengnan District Zengzhou Steel Pipe Co., Ltd. reduced straight seam welded pipe prices by 20 yuan on May 13.
On a broader note, the newly issued "State of the Nine Articles" outlines four key requirements for the bond market, including promoting development, enhancing credit constraints, improving interoperability, and strengthening supervision. These guidelines aim to address long-standing issues and bring sustainable benefits through reform.
From January to April 2014, real estate development investment nationwide reached 2.2222 trillion yuan, up 16.4% year-on-year, though this marked a 0.4 percentage point decline from the first quarter. Residential investment totaled 1.5299 trillion yuan, rising 16.6%, with a 0.2 percentage point drop in growth rate, accounting for 68.5% of total real estate investment.
In April 2014, the added value of large-scale industrial enterprises increased by 8.7% year-on-year, down 0.1 percentage points from March. On a monthly basis, the increase was 0.82% compared to the previous month. From January to April, the cumulative growth stood at 8.7%.
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