Hot-rolled coil spot prices rose by 10 yuan/mt today, influenced by last night's session, while cold-rolled prices held steady. Market trading was sluggish today, continuing the post-holiday consolidation pattern, with transactions concentrated in rigid restocking demand and low-priced resources. In terms of supply, the pace of post-holiday social inventory buildup for hot-rolled coils widened, and steel mill production stayed high. On the demand side, some downstream enterprises have restocking needs, but overall transactions still fell short of strong market expectations. Cost side, dual-carbon policies drove gains, while iron ore support was insufficient, providing limited cost support for hot-rolled coils. Overall, the hot-rolled coil market lacks drivers in the short term, and prices are expected to consolidate on a subdued note.
| SMM Sheets & Plates Daily Closing Prices | 2026/10/10 | |||||
| Domestic and Foreign Trade Market Quotations | ||||||
| Product | City | Grade | Specification | Basis | Price | % Change |
| Hot-rolled coil | Shanghai | Q235B | 5.5*1500*C | 45 | 3300 | 10 |
| Hot-rolled coil | Lecong | Q235B | 5.75*1500*C | 15 | 3270 | 10 |
| Hot-rolled coil | Ningbo | Q235B | 5.5*1500*C | 45 | 3300 | 10 |
| Hot-rolled coil | Tangshan | Q235B | 5.75*1500*C | -45 | 3210 | 10 |
| Cold-rolled coil | Shanghai | DC01 | 1.0*1250*C | - | 3710 | 0 |
| Cold-rolled coil | Lecong | SPCC | 1.0*1250*C | - | 3740 | 0 |
| Sheets & Plates Export FOB | Port | Grade | Specification | Price | % Change | |
| Hot-rolled coil | Jingtang port | SAE1006 | 3.0*1250*C | 494 | 1 | |
| Hot-rolled coil | Tianjin port | Q235B | 3.0*1250*C | 496 | 1 | |
| Cold-rolled coil | Tianjin port | DC01 | 1.0*1250*C | 551 | 1 | |
| Medium-thickness plate | Jingtang port | Q235B | 14-30mm | 545 | 0 | |
| *Sheets & plates export FOB unit: $/mt | ||||||
| Transaction Tracking | ||||||
| 1. Mainstream quotations in Shanghai today were 3,290-3,300 yuan/mt, up 10 yuan/mt MoM, with average intraday trading. 2. Late-day quotes in the Lecong market were 3,260-3,270 yuan/mt today, with intraday prices up 10 yuan/mt MoM. Market trading sentiment was average, and it was difficult to sell at high prices. 3. Late-day spot quotes in Tangshan were 3,210 today, up 10. Trading sentiment was moderate, and overall HRC trading volume continued to increase. 4. Late-day spot quotes in Shenyang were 3,200 today, up 10. Trading sentiment was moderate, and HRC trading was average. 5. Shanghai Bensteel Group cold-rolled DC01 1.0 was quoted at 3,710 yuan/mt, with prices steady and trading average today. |
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| Hot Topic News | ||||||
| 1. Many regions advanced major project construction to strengthen efforts to stabilize investment 2.9-month average monthly working hours of major construction machinery products were 80.7 hours |
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| Summary | ||||||
| Spot HRC prices rose 10 yuan/mt today, influenced by last night’s night session, while cold-rolled prices held steady. Market trading was sluggish today, and the overall post-holiday consolidation pattern continued, with trading mostly concentrated in restocking for rigid demand and low-priced resources. In terms of supply, post-holiday HRC social inventory buildup expanded, and steel mill production stayed high. Demand side, some downstream enterprises had restocking demand, but overall trading still fell short of the market’s strong expectations. Cost side, the dual-carbon policy drove prices higher, while iron ore support was insufficient, providing limited cost support for HRC. Overall, the HRC market lacked drivers in the short term, and prices are expected to consolidate on a subdued note. | ||||||
| Data Source Statement: Except for other data from public information, all other data are processed by SMM based on public information, market communication, and SMM’s internal database models, for reference only and not constituting decision-making advice. | ||||||
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