Steel price in the market on February 24, 2025

Threaded steel: On February 24th, the average price of threaded steel in major cities across the country was 3459 yuan/ton, a decrease of 29 yuan/ton from the previous trading day. Specifically, as the market opened in the morning, futures contracts fluctuated and fell, while spot market prices remained weak in the morning, and low-level resources emerged. In terms of transactions, the market procurement enthusiasm is poor, the wait-and-see mentality is obvious, and the willingness of traders to sell is obvious.

Hot rolled coils: On February 24th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3454 yuan/ton, a decrease of 27 yuan/ton from the previous trading day. From the perspective of demand, we are about to enter the peak season in March, and the demand for hot coils in the manufacturing industry is gradually increasing. The overall atmosphere is also constantly being enhanced, adding favorable factors. From a supply perspective, the increase or decrease in raw material coking coal and coke has to some extent driven down the price of finished products, but the overall decline in spot prices is not significant and is still supported by cost factors.

Cold rolled coil: On February 24th, the spot price of cold-rolled coil in China was weak, with a national average price of 4193 yuan/ton, a decrease of 11 yuan/ton from the previous trading day. The black series futures market is oscillating weakly, and currently the support on the raw material side is weakened, leading to a strong wait-and-see sentiment in the market. Regarding steel mills, according to feedback from traders, steel mills in the southwest region have issued the latest settlement, with prices remaining high.

Medium thick plate: On February 24th, the average price of 20mm ordinary plate in 24 major cities across the country was 3531 yuan/ton, a decrease of 13 yuan/ton from the previous trading day. Black series fluctuated and fell, spot prices followed suit, demand weakened, and transactions were poor. In terms of demand, according to market feedback, downstream industries such as steel structures in manufacturing are relatively busy, with a large number of engineering orders, and the procurement volume is expected to slightly increase.