2026-10-09 Steel Market Briefing

Futures market
The main thread contract fluctuated narrowly within the day, closing at 3080; The main force of hot rolls has slightly increased. The raw material side is differentiated, with strong coking coal and weak iron ore oscillation. The overall black series has increased the divergence between long and short positions, and the volatility of the market is limited.
Spot reference
Tangshan ordinary carbon billet factory price is 2950 yuan/ton, a decrease of 20 yuan from yesterday. The overall spot price of domestic construction steel is stable but slightly weak, with some cities experiencing a slight decline; The quotation for sheet metal is generally stable. The market quotation has loosened slightly following the steel billet.
Transaction supply and demand
Today's overall transaction performance is weak, and downstream terminals still maintain essential procurement, with weak willingness to replenish large quantities of inventory; Traders are facing shipping pressure, and some merchants are voluntarily offering discounts to sell their goods. In terms of steel mills, there are not many short-term maintenance, and the overall supply is still relatively high.