Steel price in the market on October 20, 2025

Rebar: On October 20, the average price of 20mm Grade III seismic rebar in 31 major cities across China was 3,217 yuan/ton, up 2 yuan/ton from the previous trading day. Recent rebar production continued to decline, while inventories shifted from rising to falling, indicating that demand still maintains some resilience. Currently, spot prices will continue to fluctuate around the cost line, with fundamental contradictions somewhat easing, but policy expectations remain moderate.

Hot-rolled coils: On October 20, the average price of 4.75mm hot-rolled coils in 24 major cities across China was 3,329 yuan/ton, down 1 yuan/ton from the previous trading day. Subsidy policies have been suspended in many regions, leading to declining sales of automobiles and home appliances, along with notable inventory accumulation. Exports are also facing new challenges, while hot-rolled coil supply is expected to remain high, resulting in persistent fundamental imbalances.

Cold-rolled coil: On October 20, the average price of 1.0mm cold-rolled coil in 24 major cities across China was 3,918 yuan/ton, down 2 yuan/ton from the previous trading day. Most traders noted that after a prolonged period of narrow price adjustments lasting over a month, further downward space was limited. However, the traditionally strong "Golden September" has fallen short, and the performance of "Silver October" has also been less than satisfactory. Market demand intensity remains weaker than the same period in previous years, leaving the current market trend direction unclear. As a result, trading operations have been relatively cautious.

Thick Plate: On October 20, the average price of 20mm plain plate in 24 major cities across China was 3,467 yuan/ton, down 2 yuan/ton from the previous trading day. Spot prices in most cities remained stable, but demand throughout the day was weak, with limited market inquiries and unsatisfactory shipments. On the supply side, the utilization rate of thick plate production capacity remains high nationwide. However, post-holiday inventory reduction has been slow, while end-user procurement has slowed. Traders are under some pressure and remain cautious, with a pessimistic outlook on the market.