Steel Price in the Market on February 2, 2026

Threaded steel: On February 2nd, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3310 yuan/ton, a decrease of 6 yuan/ton from the previous trading day. As the Spring Festival holiday approaches, market demand has weakened, and the sharp decline in snails during the same period has affected market sentiment, resulting in poor downstream purchasing enthusiasm. At the same time, the volatility of overseas markets has intensified, and market risk appetite has significantly decreased, further suppressing the black commodity market.

Hot rolled coils: On February 2nd, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3292 yuan/ton, a decrease of 7 yuan/ton from the previous trading day. The financial market is volatile, the commodity trading atmosphere is pessimistic, and the price of steel futures is affected and declining. In terms of demand, the decline in downstream real estate investment has expanded, and overall domestic demand remains weak. Coupled with the approaching Spring Festival, the terminal market has a strong atmosphere of waiting for holidays. The manufacturing industry has relatively stable production and can still meet the demand for sheet metal. However, as the holiday approaches, market purchasing sentiment is cautious, and it is expected that the support for sheet metal prices will be limited.

Cold rolled coils: On February 2nd, the average price of 1.0mm cold coils in 24 major cities across the country was 3797 yuan/ton, a decrease of 3 yuan/ton from the previous trading day. The spot market is under overall pressure, with most merchants offering weakly stable prices and some markets experiencing slight price reductions. The current market is in a traditional off-season of demand, with generally low purchasing intentions of end enterprises, slowing down the pace of procurement, and a light trading atmosphere in the market. Overall transaction volume remains low.

Medium thick plate: On February 2nd, the average price of 20mm ordinary plate in 24 major cities across the country was 3366 yuan/ton, a decrease of 4 yuan/ton from the previous trading day. In the afternoon, there were fewer inquiries from customers, and transactions were almost concentrated in the morning. Waiting for the price drop on the 3rd and an increase in bargaining customers, there was an increase in hidden resources, and the terminal was not active in receiving goods. As a result, all day shipments were not as good as last Friday.