Steel Price in the Market on October 26, 2026

Rebar: On October 26, the average price of 20mm Grade III seismic-resistant rebar in 31 major cities across China was 3,304 yuan/ton, down 7 yuan/ton from the previous trading day. With declining temperatures in northern regions, expectations of seasonal demand weakness intensified, compounded by market reluctance to accept high-priced resources, leading suppliers to prioritize inventory reduction and sales.

Hot-rolled coil: On October 26, the average price of 4.75mm hot-rolled coils in 24 major cities across China was 3,240 yuan/ton, down 8 yuan/ton from the previous trading session. The hot-rolled coil market continued its weak and fluctuating trend, with both futures and spot prices declining simultaneously, resulting in subdued trading activity. The seasonal demand boost during the "silver October" period had largely subsided, leading to cautious terminal purchases. As winter stockpiling and heating season production restrictions loom, market sentiment remains highly cautious.

Cold-rolled coil: On October 26, the average price of 1.0mm cold-rolled coil in 24 major cities across China was 3,750 yuan/ton, down 5 yuan/ton from the previous trading session. Spot prices for cold-rolled products in most cities declined slightly, with weak speculative demand and a minor contraction in overall market transactions. According to feedback from some traders, both futures and spot prices of raw materials continued to decline, but steel mills did not adjust their order prices accordingly, leaving most traders currently in a loss position.

Thick Plate: On October 26, the average price of 20mm common plates in 24 major cities across China was 3,470 yuan per ton, down 10 yuan per ton from the previous trading day. The September-October period, traditionally a window for inventory reduction, saw weaker-than-usual performance this year. By late October, temperatures dropped in most regions of the country, leading to a seasonal slowdown in construction activity in the north and weaker demand. In southern markets such as East and South China, procurement slowed due to tight liquidity and insufficient orders. Shipbuilding orders have been scheduled until 2029, creating a baseline demand, but orders in the steel structure and construction machinery sectors remained sluggish, with end-users primarily purchasing on-demand and lacking concentrated bulk procurement.