[Daily steel market report] [2025-8-11]

**Today's steel market price briefing**
**August 11, 2025**

On August 11, 2025, China's steel market as a whole showed an upward trend, mainly driven by the following factors:

1. Futures rise in tandem with spot pricesFutures market: The main rebar contract (2510) closed at 3250 yuan/ton, up 35 yuan (up 1.09%); The main contract of hot coil closed at 3465 yuan/ton, up 44 yuan (up 1.29%). Coking coal, coke and other raw material futures also performed strongly, with coking coal up nearly 3% and coke up nearly 2%;

Spot market: the national average spot price of rebar was 3355 yuan/ton, up 11 yuan; the average price of hot coil was 3482 yuan/ton, up 24 yuan. The price of construction steel in Shanghai, Hangzhou, Nanjing and other places generally rose by 10-20 yuan/ton.

2. The production restriction policy disturbs the market
The news of production restrictions of iron and steel enterprises in Tangshan continues to affect the market, especially independent rolling companies may stop production at any time from August 16 to 25, further strengthening the expectation of tightening supply.

Baosteel's domestic sales price was raised in September (hot rolling up 200 yuan, cold rolling up 300 yuan), boosting market bullish sentiment.

3. The demand side has improved

Although it is still in the off-season, terminal demand has rebounded slightly after the beginning of autumn, speculative demand and construction site procurement have recovered, and transactions in Beijing, Tangshan and other places have improved.
The price of construction steel in Hubei, Hunan and other places rebounded, and the transaction of low-priced resources was acceptable, but weather factors (such as rain) still restricted the release of demand.

Summary
On August 11, the steel market rose as a whole, driven by production restrictions, costs and macro expectations, but the demand side was still constrained by weather and other factors, and the short term may maintain a strong shock pattern. In the future, it is necessary to pay attention to the implementation of production restrictions in Tangshan and the actual recovery of terminal demand.

China Heavymetals