April 2026 carbon steel market shows strong positive momentum: top Chinese steel mills raise official prices, raw material costs provide firm support, and manufacturing & infrastructure demand continues to recover.
1. Leading Steel Mills Raise Prices, Sending a Clear Bullish Signal
In early April 2026, China’s major steel producers including Baowu, Ansteel, and Shougang have collectively increased their ex-factory prices by 200 CNY per ton.
This unified price adjustment is a strong signal of improved market confidence and effectively forms a solid price floor for the whole carbon steel sector.
As the benchmark carbon steel product, Q235 hot rolled coil has stabilized at around 3,365 CNY/ton, showing a clear bottoming and stabilizing trend after previous fluctuations.
2. Strong Cost Support Underpins Stable Steel Prices
The entire carbon steel market is backed by firm upstream cost support:
- Iron ore (62% Fe) stays high at around 110 USD/ton, maintaining strong cost support.
- International sea freight rates remain elevated, further supporting production costs.
- Coke prices increased by 50–55 CNY/ton starting April 1, with continued upward expectations in the market.
Under such a cost structure, carbon steel prices have limited downward space and a solid foundation for stabilization and rebound.
3. Robust Demand Recovery in Manufacturing and Infrastructure
The "Silver April" peak demand season is in full swing, driving a notable recovery in steel consumption.
Manufacturing Sector Expands Steadily
China’s
Manufacturing PMI stands at 50.4, staying in the expansion zone.
Orders in
automotive, shipbuilding, and construction machinery remain strong, boosting demand for hot rolled coil, medium plate, and profiles.
Infrastructure Investment Accelerates
Infrastructure bond issuance is
7% higher year-on-year, supporting a new round of project construction.
High-speed rail, water conservancy, and municipal engineering projects have started intensively, driving strong demand for rebar and wire rod.
Inventory Destocking Shows Real Demand Strength
Recent data shows:
- Demand for medium plate increased 13.3% year-on-year
- Demand for cold rolled coil rose 11.9% year-on-year
Healthy inventory digestion reflects real and improving downstream demand, laying a solid foundation for a stable and strong carbon steel market.
