News
2025/ 10 / 30
Steel Price Trends in China: October 2025 – A Fluctuation of First Decline Then Rise
Since the start of October 2025, China’s steel market has witnessed a distinct price trend: a comprehensive decline in the early to mid-month period, followed by a volatile upward movement in late October. Below is a detailed breakdown of market performance and the driving factors behind the fluctuations.
1. Market Performance: Two Phases of Price Movement
Phase 1: Early to Mid-October – Comprehensive Price Decline
Against the backdrop of weak downstream demand and high inventory levels, steel prices across major categories fell steadily in the first half of October.
Key Price Data (Mid-October)
Steel Category | Specification | Price (Yuan/Ton) | Price Change vs. Previous Period | Decline Rate |
China Steel Price Index (CSPI) | – | 91.39 Points | Down 1.32 Points (Week-on-Week) | 1.42% |
Rebar | 20mm, HRB400E | 3,110.5 | Down 73.6 Yuan (vs. Late Sept) | 2.3% |
Wire Rod | 8-10mm, HPB300 | 3,264.3 | Down 67.0 Yuan (vs. Previous Period) | 2.0% |
Ordinary Medium Plate | 20mm, Q235 | 3,445.3 | Down 62.4 Yuan (vs. Previous Period) | 1.8% |
Phase 2: Late October – Volatile Upward Trend
In late October, market sentiment improved driven by supply-side adjustments and positive macro signals, pushing steel prices into a recovery phase.
- October 29: The national average spot price of hot-rolled steel rose to 3,350 yuan/ton, up 11 yuan/ton from October 28 and 45 yuan/ton week-on-week. In the futures market, hot-rolled steel futures opened high and maintained upward momentum, closing 40 yuan/ton higher (+1.21%) than the previous working day.
- October 30: Rebar spot prices continued to climb, with an upward adjustment of 10-20 yuan/ton. Meanwhile, inventory pressure eased: steel inventory in Yuncheng, Shanxi Province dropped from 1 million tons in the previous week to 950,000 tons.
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