Price trend

Steel mills operated and shipped normally during the National Day holiday. However, due to transportation restrictions and market closures, factory and community warehouses saw an overall increase, leading to significant inventory pressure. On the demand side, overall market transactions were weak, and traders faced pressure from accumulated inventory, focusing primarily on shipping. According to the SunSirs Commodity Market Analysis System, the price of standard mild steel plate (material: Q235B; specification: 20) was 3,342 RMB/ton on October 11, down 0.59% from pre-holiday levels.

Influencing factors

Billet Market:

Domestic billet prices rose last week before consolidating. As of October 11th, the tax-inclusive price of standard square billet in Tangshan was 2,950 RMB/ton, down 90 RMB/ton from pre-holiday levels. Downstream finished steel prices saw a steady decline, with overall trading volume weak. Ex-factory billet prices are expected to be temporarily stable.

Supply and demand

After the holiday, terminal demand gradually recovered, but market operations remained cautious. This week's mild steel plate consumption was 1.5241 million tons, a decrease of 72,200 tons from the previous week, and a month-on-month increase of 1.71%.

In late September 2025, the China Iron and Steel Association focused on statistically analyzing the steel inventory of steel enterprises, which was 14.67 million tons, a decrease of 620,000 tons from the previous ten days, a decrease of 4.1%; an increase of 2.3 million tons from the beginning of the year, an increase of 18.6%; a decrease of 310,000 tons from the same ten days of the previous month, a decrease of 2.1%; an increase of 390,000 tons from the same ten days of last year, an increase of 2.7%; and a decrease of 580,000 tons from the same ten days of the previous year, a decrease of 3.8%.

Market outlook

Overall, nationwide mild steel plate inventories continued to accumulate last week. Post-holiday traders were eager to ship, but demand clearly fell short of expectations, resulting in poor shipments. Amidst market volatility, there were occasional hidden price cuts. Furthermore, prices in northern China gradually declined, leading to a slow, narrow decline in prices in East China. During this policy vacuum, traders lacked confidence in the market outlook and were adopting a cautious approach. On the whole, it is expected that the domestic mild steel plate market will continue to fluctuate and fall slightly next week.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.