Steel Price in the Market on February 9, 2026

Rebar: On February 9, the average price of 20mm Grade III seismic rebar in 31 major cities across China was 3,304 yuan/ton, down 2 yuan/ton from the previous trading day. The market has now entered a pre-holiday trading halt period, with a clear weak supply-demand dynamic. The spot market will soon enter a state of "no market but prices," lacking momentum for significant price fluctuations.

Hot-rolled coils: On February 9, the average price of 4.75mm hot-rolled coils in 24 major cities across China was 3,281 yuan/ton, down 3 yuan/ton from the previous trading session. Terminal demand faced pressure, with the steel market trading atmosphere generally bearish, and steel futures prices continuing a weak fluctuation trend. As the Spring Festival approached, construction sites gradually halted operations and took holidays, leading to persistent declines in building material demand and increasingly subdued trading activity. Manufacturing production remained relatively stable, but hot-rolled coil demand also showed a slight downward trend. Recently, the operation rates of long-process steel mills remained relatively stable, resulting in overall weaker finished steel supply.

Cold-rolled coil: On February 9, the average price of 1.0mm cold-rolled coils in 24 major cities across China was 3,788 yuan per ton, down 2 yuan per ton from the previous trading session. Spot prices in some markets weakened, while most markets showed little willingness to adjust prices due to the upcoming holiday period, resulting in a sluggish trading atmosphere. Traders adopted a rational and wait-and-see stance toward future market trends.

Thick Plate: On February 9, the average price of 20mm common plate in 24 major cities across China was 3,363 yuan/ton, down 1 yuan/ton from the previous trading day. From the supply side, some previously maintenance-repaired steel mills resumed production within the week, leading to a slight rebound in thick plate output, with overall market supply remaining ample. On the demand side, with the Spring Festival approaching, downstream enterprises gradually shut down operations, resulting in a significant drop in operating rates. The construction sector nearly halted activity, while the manufacturing sector sporadically replenished inventory. Speculative and winter storage demand was entirely absent.