China Steel Market Rebounds on Strong Raw Materials Prices

China’s steel market showed a rebound on January 29.
Trading activity improved across several major products.

Rebar and hot-rolled coil markets were more active.
Prices increased by CNY 10–20 per ton in some regions.

Mid-thick plates remained mostly stable.
Cold-rolled steel prices showed little change.
Pipe materials recorded small price gains.

Raw Material Costs Drive the Market

The rebound was mainly supported by higher raw material prices.
Coking coal and coke prices showed notable strength.

Iron ore prices also moved upward.
Iron ore swaps returned above US$105 per ton.

The price increase followed the US Federal Reserve’s decision.
The Fed paused adjustments to interest rates during the period.

Market Sentiment Improves Before the Holiday

Precious metals prices moved higher.
Non-ferrous metals also performed well.

This supported overall market sentiment.
Steel prices received short-term cost support.

The current rebound comes ahead of the Chinese New Year holiday.
Some buyers focused on near-term procurement.

Market Outlook Remains Cautious

Despite the recent rebound, uncertainty remains.
Market sustainability depends on raw material price trends.

Demand recovery remains uneven across sectors.
Participants continue to monitor cost and demand signals closely.

For overseas buyers, recent price movements provide reference.
They help assess short-term purchasing plans.

More steel market updates and product information are available at
👉 https://www.lyhsteel.com

FAQ

Q1: What caused the rebound in China’s steel market?

The rebound was mainly driven by higher prices for coking coal, coke, and iron ore.

Q2: Which steel products saw price increases?

Rebar and hot-rolled coils rose by CNY 10–20 per ton in some regions.

Q3: How did iron ore prices perform?

Iron ore prices increased, with swaps moving back above US$105 per ton.

Q4: Did all steel products rise in price?

No. Mid-thick plates and cold-rolled steels remained mostly stable.

Q5: Is the rebound expected to continue?

The outlook remains uncertain and depends on raw material prices and demand conditions.