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

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

According to market data from November 11, 2025, the domestic steel market overall shows a pattern of 'weak supply and demand, oscillating consolidation.' Although prices of some construction steel have seen tentative increases, overall market transactions are moderate, and the weakening in the futures market has dampened market sentiment.

The table below summarizes the core dynamics of the market on that day, allowing you to quickly grasp the key points.

| Price Trends | Overall narrow-range fluctuations, with slight price increases in construction steel in some regions; section steel prices remain stable, pig iron prices are mainly steady with minor adjustments.

| Supply and Demand | Supply pressure slightly eased: Some steel mills have undertaken maintenance and production cuts due to worsening losses, resulting in a slight decline in construction steel supply. Demand remains weak: Nationwide construction steel sales volume dropped 15.62% day-on-day, showing generally weak market transactions.

| Cost Support | Raw material prices are mixed: Coke price hikes have not yet been realized, while iron ore prices are fluctuating; cost support still exists but with some changes in strength.

| Market Sentiment | Generally cautious and observant: The futures market is fluctuating downward, merchants mainly focus on sales, and outlooks for the future remain cautious.

Market dynamics of various varieties and regions

- Construction Steel: Prices in major cities nationwide have risen slightly, but market transactions are varied. The northern market shows relatively stronger performance due to minor rush orders before winter work suspensions; in contrast, the southern market has limited upward potential.

- Section Steel Market: Nationwide section steel prices remain stable, with moderate transactions. Trading activity in North China is generally moderate, with overall weak transactions; in East China, inquiry volumes are decreasing and spot inventory remains high; in South and Southwest China, merchants mostly adopt a wait-and-see attitude, purchasing according to demand. In Xi’an, section steel prices are mainly stable, and traders focus on sales.

- Ore Iron Market: Nationwide ore iron prices are generally stable with minor adjustments, and transactions are weak. Enterprises maintain low in-factory inventories, but downstream purchases are limited to rigid demand, resulting in a subdued trading atmosphere.

Future Market Outlook

Overall, in the short term, the steel market is expected to continue 'narrow-range fluctuations with a weak bias.'

- Major bearish factors: As the weather turns colder, the seasonal decline in demand is difficult to reverse. Meanwhile, current inventory levels remain high, and inventory reduction pressures are significant, limiting the potential for price rebounds.

- Potential supportive factors: It should be noted that due to high raw material costs, most steel mills are operating at losses in construction steel production, which may force them to further reduce output and thus alleviate supply pressure. In addition, low inventories and high costs still provide some support for steel prices.In summary, the market lacks a unilateral force to break the deadlock and is expected to maintain fluctuations. Close attention should be paid to macroeconomic policy trends and the impact of steel mill production cuts in the future.

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