Steel Price in the Market on January 26, 2026

Rebar: On January 26, the average price of 20mm Grade III seismic-resistant rebar in 31 major cities across the country was 3,323 yuan per ton, up 2 yuan per ton from the previous trading day. Current market supply-demand imbalances are not pronounced, with active speculative sentiment at low levels and clear support at the price bottom.

Hot-rolled coil: On January 26, the average price of 4.75mm hot-rolled coils in 24 major cities across China was 3,304 yuan per ton, up 3 yuan per ton from the previous trading day. Traders maintained a wait-and-see attitude, with the market still prioritizing shipments. Currently, weak demand persists during the off-season, and domestic demand continues to lag significantly. Macroeconomic and industry expectations remain volatile, leading to expectations of continued sluggish demand. From the supply side, as the off-season deepens, end-user demand faces gradual decline, resulting in persistently poor market transactions. Overall, there is insufficient incentive for increased production on the supply side.

Cold-rolled coil: On January 26, the average price of 1.0mm cold-rolled coil in 24 major cities across the country was 3,817 yuan/ton, remaining unchanged from the previous trading day. Traders reported that market demand was moderate. Under the dual pressures of the traditional off-season, some merchants resorted to hidden price reductions to boost transaction volumes, resulting in overall acceptable trading performance during the day. With weakened end consumption and relatively high supply levels persisting, major steel mills accelerated shipments nearing the end of the month, potentially signaling the onset of a stockpiling cycle.

Thick Plate: On January 26, the average price of 20mm plain plate in 24 major cities across China was 3,374 yuan/ton, remaining unchanged from the previous trading day. According to trader feedback, futures prices surged and then retreated, with fewer inquiry clients and more price negotiation clients awaiting declines. Terminal procurement was less active, and overall shipments were weaker than last Friday. In terms of resources, current order-taking for steel varieties at steel mills remains moderate, while some mills have slightly reduced locked prices for low-grade plain plates to capture market share in circulating materials.