Steel price in the market on February 24, 2026

Threaded steel: On February 24th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3303 yuan/ton, a decrease of 1 yuan/ton compared to the previous trading day (February 14th, the same below). At present, market demand has not yet recovered, and winter storage resources are being shipped one after another. Market inventory is gradually accumulating, and with the resumption of dock unloading operations, the speed of market inventory accumulation will significantly accelerate.

Hot rolled coils: On February 24th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3265 yuan/ton, a decrease of 14 yuan/ton from the previous trading day. On the first day of market opening after the holiday, the futures market weakened and downstream terminals have not yet resumed work, resulting in poor overall shipments. At present, the accumulation of inventory in the market is quite obvious, and the pressure on commerce has increased.

Cold rolled coils: On February 24th, the average price of 1.0mm cold coils in 24 major cities across the country was 3785 yuan/ton, unchanged from the previous trading day. On the first trading day after the Spring Festival, most market traders have officially resumed work, but the adjustment of spot prices is generally not significant, and the overall transition is mainly smooth. In terms of transactions, due to the fact that downstream terminals have not yet fully resumed production, post holiday procurement demand has not been released, and logistics transportation has not fully recovered, actual market transactions are limited. In terms of inventory, during the holiday season, social inventory accumulates regularly, while the pace of outbound shipments is slow. Most cold-rolled coils in the market are in a state of slight accumulation, which has a certain suppression on prices in the later stage.

Medium thick plate: On February 24th, the average price of 20mm ordinary plate in 24 major cities across the country was 3356 yuan/ton, a decrease of 5 yuan/ton from the previous trading day. The black series futures market fluctuated weakly, with stable prices in the spot market experiencing a slight decline and weak trading. After the Spring Festival holiday, the inventory accumulation in major cities across the country is evident, with steel mills continuing to receive goods and an increase in market circulation resources, leading to rapid inventory pressure. Downstream terminals are still in the initial stage of resuming work after the holiday, and procurement is mainly based on sporadic urgent needs. Batch replenishment has not yet started, and the pace of demand release is relatively slow.