Steel price in the market on February 10, 2025

Threaded steel: On February 10th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3479 yuan/ton, a decrease of 2 yuan/ton from the previous trading day. The recent increase in macroeconomic disturbances has had a certain impact on market sentiment. Meanwhile, in recent times, coke prices have continued to rise and fall, and steel mills have maintained a low inventory of raw materials and a rigid demand procurement strategy, which has put pressure on raw material prices.

Hot rolled coils: On February 10th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3472 yuan/ton, a decrease of 9 yuan/ton from the previous trading day. After the holiday, terminal demand has recovered to some extent, but steel inventory continues to accumulate, and the transfer of inventory to terminals is not very smooth.

Cold rolled coils: On February 10th, the average price of 1.0mm cold coils in 24 major cities across the country was 4205 yuan/ton, unchanged from the previous trading day. On the 10th, the hot coil futures market operated weakly, and the trading atmosphere in the market was average, with some market prices experiencing a slight decline. According to feedback from traders in East China, the downstream manufacturing industry has not yet fully resumed work and production, and the overall market transaction situation is average. In terms of mentality, there has been no significant change in market demand, and the market mentality remains cautious.

Medium thick plate: On February 10th, the average price of 20mm ordinary plate in 24 major cities across the country was 3536 yuan/ton, a decrease of 5 yuan/ton from the previous trading day. From the supply side, the production of medium plate and the utilization rate of production capacity fluctuate narrowly. Some steel mills that started to shut down for maintenance this week will resume production, and the overall production of medium plate will increase. The social inventory of the medium-sized plate continues to increase, while the downstream enterprises resume work slowly, the market procurement demand has not yet been opened, and the spot market is mainly wait-and-see. It is expected that after the Yuanxiao (Filled round balls made of glutinous rice-flour for Lantern Festival) Festival, with the increase of the market resumption and production, the terminal demand may gradually release, presenting the basic aspect of strong supply and weak demand.