Steel price in the market on February 5, 2025

Threaded steel: On February 5th, the average price of threaded steel in major cities across the country was 3480 yuan/ton, an increase of 6 yuan/ton from the previous trading day. Specifically, the market opened in the morning with weak and volatile futures. Influenced by the festive atmosphere, steel mills slightly pushed up prices, and market quotes cautiously followed suit. In terms of transactions, today is the first working day after the holiday, and most merchants have not resumed business. In terms of transactions, the vast majority of downstream engineering projects have not yet started construction, and there is currently no actual procurement demand in the market.

Hot rolled coils: On February 5th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3475 yuan/ton, a decrease of 8 yuan/ton from the previous trading day. On the first day of resuming work after the holiday, all parties in the market generally adopt a wait-and-see attitude, with few actual purchases. Therefore, steel traders have a weak willingness to follow the sharp decline and still look forward to sustained demand in the future. At present, social inventory is at a relatively high level compared to the same period in previous years. Despite strong demand expectations in policy coverage areas, most end enterprises have not yet officially started production, and market demand remains relatively sluggish.

Cold rolled coil: On February 5th, the spot price of cold-rolled coil in China remained weak and stable, with a national average price of 4204 yuan/ton, a decrease of 2 yuan/ton from the previous trading day. The black series futures market is fluctuating weakly, with little adjustment in spot prices and a quiet trading atmosphere in the market. According to research, the steel market mainly opens after the eighth day of the lunar new year. Today, downstream inquiries and price inquiries have shown average performance, and post holiday procurement demand has not yet been released. There is a strong expectation in the short term. In terms of inventory, the overall social inventory of cold-rolled products before the Spring Festival this year was lower than the same period in previous years, and the psychological pressure on traders was relatively low overall.

Medium thick plate: On February 5th, the average price of 20mm ordinary plate in 24 major cities across the country was 3535 yuan/ton, an increase of 1 yuan/ton from the previous trading day. The black series futures market fluctuated downward, with spot prices mainly stable and market transactions weak. From the supply side, during the Spring Festival, some steel mills still shipped medium and thick plates, and market transactions were basically stagnant. Today's market trading volume is still relatively low, coupled with the recent arrival of steel mill resources, the inventory pressure of medium and thick plates has increased after the holiday.