China's steel market showed an overall upward trend today, with the composite price rising 0.63% month-on-month. The market sentiment index reached 75 points, and procurement decision-makers' attention has increased.
In terms of major product prices, Wire Rod φ6 Q235 was quoted at USD 535.17/ton, Rebar φ10 HRB400 at USD 514.48/ton, Hot Rolled Coil 2.75*1500*C Q235B at USD 510.34/ton, and Cold Rolled Coil 1.0mm ST12 at USD 561.38/ton. On the futures side, Rebar and Hot Rolled Coil trends remained stable without significant fluctuations, and price expectations are relatively steady.
Inventory levels continue to remain low, down 12.41% week-on-week, easing supply-side pressure. On the demand side, RFQ inquiry trends are stable, but export orders have declined slightly, with overall transaction activity flat. Notably, new real estate credit regulations have been officially released. The PBOC and multiple ministries have introduced concentrated policies ending the "pre-sale housing" model, shifting to a lead bank system and post-completion lending, reducing homebuying risks while reshaping industry credit logic (Source: Mysteel, 2026-08-31).
On the upstream raw material front, mainstream imported iron ore prices at Qingdao Port rose by USD 2 across the board. Tangshan Qian'an Songting Steel raised its standard billet prices by RMB 20/ton to RMB 3,060/ton ex-works (tax included), showing strong cost support. H1 performance of listed building materials companies showed that 16 out of 30 firms posted profits, with HuXin Building Materials and Shangfeng Materials among 7 companies recording year-on-year net profit growth, intensifying industry divergence (Source: Mysteel, 2026-08-31).
Overall Assessment: Current steel prices have risen modestly, inventories remain at low levels, and policy support is evident. However, demand has not shown significant expansion, and weak exports are dragging on the overall pace. Buyers are advised to maintain a wait-and-see approach, closely tracking demand transmission after the implementation of the new real estate policies, and place orders selectively after any price pullback.
| Product | Spot USD | FOB | Vietnam | Philippines | Thailand | Indonesia | Malaysia |
|---|---|---|---|---|---|---|---|
| High Speed Wire Rod | $564 ¥3800 | $576.03 | $674.83 | $681.45 | $696.12 | $745.62 | $634.02 |
| Hot Rolled Coil | $537 ¥3620 | $549.31 | $772.51 | $651.57 | $671.1 | $780.04 | $645.3 |
| Angle Steel | $527 ¥3550 | $538.91 | $663.97 | $659.31 | $678.11 | $659.15 | $621.56 |
| Rebar | $542 ¥3650 | $553.76 | $653.6 | $697.98 | $673.41 | $721.52 | $613.76 |
| Channel Steel | $530 ¥3570 | $541.88 | $654.17 | $649.33 | $667.69 | $649.04 | $612.2 |
| Cold Rolled Coil | $592 ¥3990 | $604.24 | $725.46 | $726.4 | $749.67 | $803.09 | $715.65 |
| Medium Plate | $604 ¥4070 | $616.11 | $698.9 | $688.15 | $709.5 | $794.79 | $677.99 |
| I-Beam | $548 ¥3690 | $559.7 | $660.71 | $655.98 | $674.65 | $655.77 | $618.44 |