Steel Price Market Trends on January 12, 2026

Rebar: On January 12, the average price of 20mm Grade III seismic-resistant rebar in 31 major cities across China was 3,342 yuan/ton, up 5 yuan/ton from the previous trading session. Specifically, futures prices fluctuated higher during the morning session, while spot markets remained generally stable, with minor price increases in cities like East China. In terms of trading, morning market performance was average, but as futures prices held firm in the afternoon, some spot trades began to improve, leading to a better trading atmosphere.

Hot-rolled coil: On January 12, the average price of 4.75mm hot-rolled coil in 24 major cities across the country was 3,311 yuan/ton, up 5 yuan/ton from the previous trading day. Macroeconomic and industry expectations remain significantly disturbed, but as the off-season deepens, demand has weakened month-on-month, speculative demand has declined markedly, and manufacturing procurement sentiment remains weak, with domestic demand still dragging down performance. On the supply side, steel mills have seen reduced profit margins, while blast furnace operating rates and capacity utilization rates have increased. Rising cost-side prices may support finished product prices.

Cold-rolled coils: On January 12, the average price of 1.0mm cold coils in 24 major cities across China was 3,844 yuan per ton, remaining unchanged from the previous trading day. The black metals futures market showed a fluctuating upward trend, with improved trading sentiment in the market. Despite efforts to boost shipments, prices were not raised, leading to slightly better transaction volumes through price concessions. In terms of sentiment, although the upward movement in futures boosted some market confidence, overall demand remained largely unchanged, with traders maintaining a cautious and wait-and-see stance on future prospects.

Medium-thick plate: On January 12, the average price of 20mm plain plates in 24 major cities across China was 3,384 yuan/ton, up 2 yuan/ton from the previous trading day. Currently, most medium plate mills have limited production schedules for plain plates, with priority given to specialty steel, manganese plates, and scheduled shipments. The market is experiencing shortages and lack of standard specifications for plain plates, with current supply primarily sourced from northern steel mills. Low-alloy steel shipments remain relatively normal.