I. Overall market performance: Stable with a slight divergence. It will take some time for demand to recover

As of April 10, 2025, the steel market prices in Shandong Province continued the volatile adjustment trend since late March. Construction steel remained under downward pressure, while plate and high-end steel varieties benefited from the support of manufacturing demand and maintained relatively firm prices. The market presents the following characteristics:

The weakness of construction steel continues: The prices of high line and rebar continue to decline slightly. The price of mainstream rebar (HRB400E 20mm) in the Shandong market dropped to 3,170 yuan per ton, a decrease of about 50 yuan per ton compared with the end of March. The main reasons are the insufficient number of new real estate projects started and the delayed arrival of infrastructure funds.

The prices of plates vary significantly:Hot-rolled coil (4.75mm Q235B) was quoted at 3,340-3,450 yuan per ton in the Chengdu market due to the weak demand from the automotive manufacturing industry, a decrease of 10-20 yuan compared with the beginning of the month.

Due to the stable procurement in the home appliance industry, Baosteel Qingshan Resources quoted 4,200 yuan per ton for cold-rolled coil (1.0mm SPCC), remaining at a high level.

Hot-dip galvanized sheet (DX51D+Z 1.0mm) has benefited from the growth in demand for new energy vehicle components, with its price stabilizing at 3,900 yuan per ton.

Profile prices remained stable: Due to sporadic restocking for infrastructure projects, the transaction prices of varieties such as Angle steel and channel steel remained stable.