Steel Price in the market on October 19, 2026

Rebar: On October 19, the average price of 20mm Grade III earthquake-resistant rebar in 31 major cities across China was 3,324 yuan/ton, up 5 yuan/ton from the previous trading day. In the short term, widespread losses among steel mills have led to sustained production cuts, keeping weekly rebar output at low levels. Combined with ongoing declines in both factory and social inventories, cost support remains firm. However, low capital availability among end-users has limited demand release, and the market shows limited acceptance of high-priced resources.

Hot-rolled coil: On October 19, the average price of 4.75mm hot-rolled coil in 24 major cities across China was 3,278 yuan per ton, up 2 yuan per ton from the previous trading day. On the supply side, as raw material prices declined, steel mills' production costs decreased, leading to weakening cost support, while market resource releases increased. On the demand side, overall demand remained lukewarm, with "peak season not being peak" becoming a reality, as consumption was primarily driven by demand-based procurement and rigid needs.

Cold-rolled coil: On October 19, the average price of 1.0mm cold-rolled coil in 24 major cities across China was 3,772 yuan/ton, remaining stable compared to the previous trading day. Black metal futures initially rose before falling, with market prices primarily remaining steady and exhibiting limited fluctuations. The price gap between cold and hot rolling stayed around 450 yuan/ton. Steel mills generally faced losses in the plate segment, though the margin of losses for cold rolling was slightly narrower than that for hot rolling. Short-term supply-side pressure in the cold-rolling sector is unlikely to ease significantly. Under sales pressure, traders quietly reduced prices to boost shipments, but transaction performance remained mediocre.

Thick Plate: On October 19, the average price of 20mm general plate in 24 major cities across China was 3,512 yuan/ton, down 2 yuan/ton from the previous trading day. Spot trading was sluggish, with downstream demand driven by necessity and speculative demand absent. Supply remained at high levels, as steel mills showed little willingness to reduce production; slight oversupply combined with concentrated arrivals created significant inventory reduction pressure.