| | | | 钢材早报 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 研究中心黑色团队 2025/11/20 | | | 现 货 价 格 | | | | | | | | 日期 | 北京螺纹 | 上海螺纹 | 成都螺纹 | 西安螺纹 | 广州螺纹 | 武汉螺纹 | | 2025/11/13 | 3170 | 3220 | 3200 | 3210 | 3320 | 3260 | | 2025/11/14 | 3200 | 3170 | 3200 | 3210 | 3350 | 3260 | | 2025/11/17 | 3230 | 3240 | 3220 | 3270 | 3400 | 3300 | | 2025/11/18 | 3230 | 3250 | 3240 | 3290 | 3420 | 3310 | | 2025/11/19 | 3230 | 3210 | 3240 | 3290 | 3420 | 3310 | | 变化 | 0 | -40 | 0 | 0 | 0 | 0 | | 日期 | 天津热卷 | 上海热卷 | ...

| | | | 钢材早报 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 研究中心黑色团队 2025/11/19 | | | 现 货 价 格 | | | | | | | | 日期 | 北京螺纹 | 上海螺纹 | 成都螺纹 | 西安螺纹 | 广州螺纹 | 武汉螺纹 | | 2025/11/12 | 3200 | 3200 | 3190 | 3210 | 3300 | 3260 | | 2025/11/13 | 3170 | 3220 | 3200 | 3210 | 3320 | 3260 | | 2025/11/14 | 3200 | 3170 | 3200 | 3210 | 3350 | 3260 | | 2025/11/17 | 3230 | 3240 | 3220 | 3270 | 3400 | 3300 | | 2025/11/18 | 3230 | 3250 | 3240 | 3290 | 3420 | 3310 | | 变化 | 0 | 10 | 20 | 20 | 20 | 10 | | 日期 | 天津热卷 | 上海热 ...

基 差 和 月 差 产 量 和 库 存 | | | | 钢材早报 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 研究中心黑色团队 2025/11/18 | | | 现 货 价 格 | | | | | | | | 日期 | 北京螺纹 | 上海螺纹 | 成都螺纹 | 西安螺纹 | 广州螺纹 | 武汉螺纹 | | 2025/11/11 | 3200 | 3200 | 3140 | 3260 | 3300 | 3260 | | 2025/11/12 | 3200 | 3200 | 3190 | 3210 | 3300 | 3260 | | 2025/11/13 | 3170 | 3220 | 3200 | 3210 | 3320 | 3260 | | 2025/11/14 | 3200 | 3170 | 3200 | 3210 | 3350 | 3260 | | 2025/11/17 | 3230 | 3240 | 3220 | 3270 | 3400 | 3300 | | 变化 | 30 | 70 | 20 | 60 | 50 | 4 ...

| | | | 钢材早报 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 研究中心黑色团队 2025/11/17 | | | 现 货 价 格 | | | | | | | | 日期 | 北京螺纹 | 上海螺纹 | 成都螺纹 | 西安螺纹 | 广州螺纹 | 武汉螺纹 | | 2025/11/10 | 3190 | 3200 | 3140 | 3240 | 3300 | 3260 | | 2025/11/11 | 3200 | 3200 | 3140 | 3260 | 3300 | 3260 | | 2025/11/12 | 3200 | 3200 | 3190 | 3210 | 3300 | 3260 | | 2025/11/13 | 3170 | 3220 | 3200 | 3210 | 3320 | 3260 | | 2025/11/14 | 3200 | 3170 | 3200 | 3210 | 3350 | 3260 | | 变化 | 30 | -50 | 0 | 0 | 30 | 0 | | 日期 | 天津热卷 | 上海热卷 ...

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View No information provided. 3) Summary by Relevant Catalogs Price and Profit - The report presents the spot prices of various steel products including Beijing, Shanghai, Chengdu, Xi'an, Guangzhou, and Wuhan's threaded steel, as well as Tianjin, Shanghai, and Lecong's hot - rolled and cold - rolled coils from November 4th to November 10th, 2025. For threaded steel, the price of Chengdu decreased by 20, while others remained unchanged. For hot - rolled and cold - rolled coils, the price of Shanghai hot - rolled increased by 40, and others remained the same [1][14] Basis and Spread No information provided. Production and Inventory No information provided.

| | | | 钢材早报 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 研究中心黑色团队 2025/11/10 | | | 现 货 价 格 | | | | | | | | 日期 | 北京螺纹 | 上海螺纹 | 成都螺纹 | 西安螺纹 | 广州螺纹 | 武汉螺纹 | | 2025/11/03 | 3200 | 3210 | 3210 | 3150 | 3320 | 3250 | | 2025/11/04 | 3150 | 3190 | 3170 | 3150 | 3280 | 3220 | | 2025/11/05 | 3130 | 3170 | 3160 | 3150 | 3260 | 3210 | | 2025/11/06 | 3190 | 3200 | 3160 | 3220 | 3260 | 3210 | | 2025/11/07 | 3190 | 3200 | 3160 | 3240 | 3300 | 3260 | | 变化 | 0 | 0 | 0 | 20 | 40 | 50 | | 日期 | 天津热卷 | 上海热卷 ...

Core Viewpoint - The steel market is experiencing a mixed trend with weak spot prices, while the demand and supply dynamics indicate a potential for inventory adjustments and production cuts in response to market conditions [1][2][3][4][5][6] Supply - Iron element production increased by 5% year-on-year from January to September, but the growth rate narrowed in October due to environmental restrictions in Tangshan, leading to a decrease in molten iron output by 30,000 tons to 2.37 million tons [3] - The production of the five major steel products remained stable year-on-year, with a slight increase of 100,000 tons to 8.75 million tons, although the output of rebar and hot-rolled steel fell short of demand [3] Demand - Domestic demand expectations remain weak, while exports are holding at high levels, supported by low prices [4] - The total demand for steel has recovered to a year-on-year flat position, with an increase of 240,000 tons to 9.12 million tons, particularly for rebar and hot-rolled steel [4] Inventory - Inventory of the five major steel products decreased by 410,000 tons to 15.13 million tons, with rebar and hot-rolled steel inventories also declining [5] - Despite the decrease in inventory, production levels are below demand, indicating a potential for continued inventory reduction, although the rate of reduction for hot-rolled steel is slower [5] Cost and Profit - Steel profits have significantly declined from high levels, with the current profit ranking from highest to lowest being billet, hot-rolled, rebar, and cold-rolled [2] - The cost support for iron element is weak, while carbon element costs provide some support [2] Market Outlook - The steel market is expected to continue its downward trend, with the need to compress profits to curb production [6] - The focus remains on the supply side of coking coal, with rebar and hot-rolled steel expected to trade within specific price ranges [6]

| | | | 钢材早报 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 研究中心黑色团队 2025/11/04 | | | 现 货 价 格 | | | | | | | | 日期 | 北京螺纹 | 上海螺纹 | 成都螺纹 | 西安螺纹 | 广州螺纹 | 武汉螺纹 | | 2025/10/28 | 3150 | 3230 | 3250 | 3180 | 3330 | 3280 | | 2025/10/29 | 3190 | 3250 | 3270 | 3180 | 3350 | 3290 | | 2025/10/30 | 3200 | 3210 | 3270 | 3200 | 3350 | 3290 | | 2025/10/31 | 3200 | 3210 | 3220 | 3170 | 3320 | 3290 | | 2025/11/03 | 3200 | 3210 | 3210 | 3150 | 3320 | 3250 | | 变化 | 0 | 0 | -10 | -20 | 0 | -40 | | 日期 | 天津热卷 | 上海 ...

| | | | 钢材早报 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 研究中心黑色团队 2025/11/03 | | | 现 货 价 格 | | | | | | | | 日期 | 北京螺纹 | 上海螺纹 | 成都螺纹 | 西安螺纹 | 广州螺纹 | 武汉螺纹 | | 2025/10/27 | 3130 | 3230 | 3210 | 3130 | 3310 | 3260 | | 2025/10/28 | 3150 | 3230 | 3250 | 3180 | 3330 | 3280 | | 2025/10/29 | 3190 | 3250 | 3270 | 3180 | 3350 | 3290 | | 2025/10/30 | 3200 | 3210 | 3270 | 3200 | 3350 | 3290 | | 2025/10/31 | 3200 | 3210 | 3220 | 3170 | 3320 | 3290 | | 变化 | 0 | 0 | -50 | -30 | -30 | 0 | | 日期 | 天津热卷 | 上海 ...

Report Summary 1) Report Industry Investment Rating - Not provided in the given content 2) Core Viewpoints - Not provided in the given content 3) Summary by Related Catalogs Price and Profit - The report presents the spot prices of various steel products in different regions from October 24 to October 30, 2025, including Beijing, Shanghai, and other cities' prices for rebar and hot - rolled and cold - rolled coils. There are price changes in different regions and product types, such as Beijing rebar rising by 10 yuan, Shanghai rebar dropping by 40 yuan, etc. [1] Basis and Spread - Not provided in the given content Production and Inventory - Not provided in the given content