Steel Price in the Market on October 12, 2026

Rebar: On October 12, the average price of 20mm Grade III seismic-resistant rebar in 31 major cities across China was 3,327 yuan/ton, up 5 yuan/ton from the previous trading day. The cost support formed by widespread steel mill losses, reduced production, and price stabilization remains firm. However, with the second round of coke price cuts driving down cost margins, and the sustainability of demand yet to be verified, market acceptance of high-priced resources remains limited.

Hot-rolled coil: On October 12, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 3,297 yuan/ton, down 1 yuan/ton from the previous trading day. Affected by both the unexpected accumulation of post-holiday inventory and weak end-user procurement, the trading atmosphere remained subdued, with prices slightly easing in multiple regions. The market generally adopted a cautious wait-and-see approach. In the short term, the primary task for the market is to digest the high inventory accumulated during the holiday period, with prices fluctuating between rigid cost support and weak demand.

Cold-rolled coil: On October 12, the average price of 1.0mm cold-rolled coils in 24 major cities across the country was 3,783 yuan per ton, remaining unchanged from the previous trading session. Although current market prices are at a low level, there is still room for negotiation in actual transactions. According to feedback from some traders in the southwestern region, downstream orders are sluggish, with most relying on depleting their own inventories. Cold-rolled demand has declined, and procurement frequency has decreased, resulting in poor market performance on October 12.

Medium-thick plate: On October 12, the average price of 20mm ordinary plates in 24 major cities across China was 3,537 yuan/ton, up 1 yuan/ton from the previous trading day. On the supply side, production at national medium-thick plate steel mills remained high and stable, with mills in East China and North China maintaining capacity release, resulting in ample circulating supply. On the inventory side, as of the week ending October 9, social inventories in 65 cities nationwide totaled 2.653 million tons, an increase of 170,400 tons compared to the pre-holiday period, reaching a yearly high, significantly intensifying the pressure to reduce inventories.