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China steel price forecast 2022

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2022 has arrived, and the trend of steel price is still uncertain. Recently, the price of stainless steel soared due to the rise in the price of bulk nickel. Based on the comprehensive information, we predict the steel price trend in 2022. We hope it will be helpful to your steel business.


China steel price forecast 2022

China Steel Association data show that February is the off-season demand for steel, affected by the heating season, Winter Olympics limited production, superimposed cold weather, parts of COVID-19 repeatedly and other factors, the domestic market demand for steel is relatively weak, steel production remains low. Driven by the market expectation after the Spring Festival, the steel price showed a slight upward trend in the first two weeks of March.

China's steel price trend rose slightly in February 2022

According to the monitoring of the iron and Steel Association, at the end of February, China's steel price index (CSPI) was 135.94 points, up 2.96 points month on month, up 2.23%, an increase of 1.25 percentage points over the previous month; Up 4.58 points year-on-year, an increase of 3.49%.

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At the end of February 2022, the prices of eight steel varieties monitored by the iron and Steel Association increased. Among them, the prices of high-speed wire, grade III reinforcement, angle steel, hot-rolled coil and cold-rolled sheet increased by 77 yuan / ton, 107 yuan / ton, 119 yuan / ton, 106 yuan / ton and 107 yuan / ton respectively month on month; The prices of medium and heavy plate, galvanized plate and hot-rolled seamless pipe changed from decline to rise, with month on month increases of 114 yuan / ton, 118 yuan / ton and 149 yuan / ton respectively.

Review of steel prices in 2021: an unusual year in steel prices

History repeats itself, but not always alike. The surge high and sweep forward in 2021, the steel price has been a huge historical market. From the first quarter, the economic recovery turned to overheating, the price bubble and the collapse. In the two quarter, market confidence was set up again with the policy of limited production, the three quarter slam the electricity and the fourth quarter stagflation broke the steel price bubble again. The overall market situation can be compared with the 2007-2012 years. History repeats itself in 2021.

China-steel-price-forecast-2022.jpg

However, in this unusual year, the inventory cycle brought by seasonal demand remained unchanged, and the steel price fluctuated with the mood of market participants. Finally, it failed to escape the seasonal law of "easy to fall in peak season and easy to rise in off-season".

"Extraordinary", "great changes", "magnificent", "ups and downs"... These are the key words, which constitute the changeable steel market of the steel industry in 2021. It can be seen from the data released by China Iron and Steel Industry Association. The prices of raw materials such as iron ore rose sharply. The average price of imported iron ore from January to November was 169.9 US dollars / ton, up 64.5% year-on-year; The steel price fluctuated sharply, and has continued to fall from wanton rise at the beginning of the year. From January to November, the average steel price index was 142.96 points, up 37.67% year-on-year; The daily output of crude steel reached an all-time high of 3.2617 million tons in April, and then decreased month on month for six consecutive months. It is expected that the annual output of crude steel in China will be about 1.02 billion tons, a year-on-year decrease of 4-5%.

For the steel industry, 2021 can definitely be described as an unprecedented great change. As the first year of the 14th five year plan, 2021 is an important year for high-quality development and the first year of low-carbon development. From the perspective of the market, 2021 is a year when the prices of black series commodities hit a record high, a year of macro, policy and market, as well as a year of ups and downs and wide opening and closing. Many situations exceed the experience and expectations of the industry.

"This year is a very extraordinary year for the steel industry." Qu Xiuli, vice president of China Iron and Steel Industry Association, said: first, major adjustments have taken place in the national industrial policy to implement the dual control of "production capacity and output", cancel the steel export tax rebate, and launch the goal of "carbon peak and carbon neutralization"; Second, the assessment of ultra-low emission transformation and "double control" of energy consumption is strict, and the guarantee of production factors is difficult; Third, domestic and foreign markets fluctuate greatly, commodity prices rise and fall sharply, and the market environment is complex.

Industry insiders also generally believe that 2021 is a turning year for the iron and steel industry. The more than 40 years since the reform and opening up are the golden period for the development of China's iron and steel industry. China has walked out of a magnificent growth cycle from the annual crude steel output of more than 30 million tons at the beginning of reform and opening up to more than 1 billion tons in 2020. The double reduction of supply and demand in the iron and steel industry in 2021 may not be a temporary market contradiction, but may mean the change of the historical cycle.

Steel price trend in 2022: there will be no extreme market of sharp rise and fall

After an extraordinary year, what is the current historical position of the iron and steel industry? What is the trend of steel prices next year? Where will the future go?

Maintaining supply and price stability in 2022 is still the main tone. For the prediction of steel prices in 2022, it is difficult to reproduce the sharp rise and fall, and the overall trend will be gentle. Lu Linying said that at the central economic work conference held not long ago, the conference stressed that China's infrastructure investment will stabilize and recover, steadily improve economic development, and gradually implement the "14th five year plan" projects to drive the overall demand for steel. At the same time, under the tone of "no speculation in housing", the implementation intensity, rhythm and mode of real estate policies may be adjusted, real estate investment may stabilize at a low level, and the area under construction and real estate construction will remain at a high level, which also supports the demand for steel. Meanwhile, in 2022, commodity prices gradually fell and the growth rate of real estate investment was lower than that in 2021. Although steel prices were supported by infrastructure demand, they were not prone to sharp rise and fall. Therefore, with the gradual stabilization of the real estate market and the increase of commencement and construction, the prices of building materials such as steel will pick up. Seasonal commencement will gradually resume in the spring of next year, which will benefit the gradual rise of steel prices. It is expected that steel prices will continue to stabilize in 2022, and there will be no extreme market of sharp rise and fall.

Lower iron ore prices drive lower steel prices

On March 15, the price of imported iron ore generally fell. The spot trade price of imported 65% fine ore fell 54.52 to 1247.85, and the CIF price of imported 65% fine ore fell 5.75 to 176.82.

Analyst point of view: iron ore prices are lower, and the support for steel prices from the cost side is weakened, which is bad for short-term steel prices.

From January to February, the daily output of crude steel in China was 2.6773 million tons

According to the data of the National Bureau of statistics, the average daily output of crude steel in China was 2.6773 million tons from January to February 2022; The average daily output of pig iron is 2239500 tons; The average daily output of steel is 3.3341 million tons. From January to February, China's pig iron output was 132.13 million tons, a year-on-year decrease of 10.8%. From January to February, China's crude steel output was 157.96 million tons, a year-on-year decrease of 10.0%. From January to February, China's steel output was 196.71 million tons, a year-on-year decrease of 6.0%.

Analyst view: the reduction of crude steel output and supply has an obvious supporting effect on steel price, which is good for medium-term steel price.

Steel prices mainly fell 2022

Among the 24 markets of rebar, 18 fell by 20-60, and the average price of 20mmhrb400e was 800usd / ton, down 39 yuan / ton compared with the previous trading day;

Among the 24 markets of hot-rolled coil, 20 fell by 10-100 and one rose by 30. The average price of hot-rolled coil was 810usd / ton, down 51 yuan / ton compared with the previous trading day;

Among the 23 markets of medium and thick steel plates, 18 fell by 10-70 and 14-20mm. The average price of ordinary and medium steel plates was 812usd / ton, down 42 yuan / ton compared with the previous trading day.

Recently, a total of 22 steel mills have adjusted their prices, of which one has increased, accounting for 4.5%. The price adjustment range is 17usd / ton, and the highest increase is Shandong Chuanyang profile; 18 companies were reduced, accounting for 81.8%, and the price adjustment range was 20-80 yuan / ton. The largest decline was Shanxi Jianbang building materials; Three companies were flat, accounting for 13.7%.

Continuously update the steel price trend in 2022.


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