On September 20, the current hot-rolled 5.5mm prices in leading domestic cities are: Tianjin CNY 3,910, Shanghai CNY 3,920, Lecong CNY 3,920, Wuhan CNY 3,970, and Chengdu CNY 4,010.

At the opening of the market today, the hot coil futures market fluctuated and ran weakly, while the spot market buying and selling was average. In the spot market, traders' quotations have been lowered today, with the market falling by CNY 20-30 today. Downstream and terminal players are mainly waiting and watching, their willingness to enter the market for purchasing is weak, and the market transaction volume has declined compared with yesterday. Affected by the fluctuations in the futures market, there is no stocking activity in the hot coil market. The downstream purchases are carried out as planned, and the inventory remains at a low level. In terms of macro news, today the People's Daily published a steel commentary, summarizing the steel industry's cost reduction, efficiency improvement and supply optimization. In addition, the coke industry has launched the first round of price increases, with an increase of CNY 100-110/ton. Coke prices will still be strong in the short term. The recent high prices of raw materials and fuels still provide significant support to the cost side. However, the hot coil market demand continues to be weak, and the industry is cautious about pursuing higher prices due to lack of confidence in the market outlook. Looking at the market outlook, it is expected that the hot coil market may be mainly volatile and consolidated in the near future.

The price difference between the north and south regions has increased. The price difference between Shanghai and Tangshan is CNY 20, between Shanghai and Tianjin is CNY 10 , between Lecong and Handan is CNY 20, and between Lecong and Tangshan is CNY 20.

In terms of product price differences, the price difference between hot coil and strip steel increased slightly, the price difference between hot coil and rebar narrowed, and the price difference between cold coil and hot coil increased in some areas.

The spot price of hot coil fluctuates within a narrow range compared with the futures price, difference of CNY 90 from the price of rebar.

All above is from https://finance.sina.cn/futuremarket/gypzx/2023-09-20/detail-imzniyua2908074.d.html?vt=4&cid=76576&node_id=76576