Core Viewpoint - The domestic special steel market in China shows a slight upward trend, driven primarily by downstream rigid demand and scattered orders [1][3]. Price Trends - On the 28th, the average price of 45 carbon structural steel (85mm) in key cities was 3623 yuan, up 12 yuan from the previous trading day; the average price of 40Cr alloy steel (85mm) was 3778 yuan, also up 12 yuan [3]. - Major cities reported price increases, with 45 carbon structural steel priced at 3500 yuan in Hangzhou, 3440 yuan in Changzhou, 3650 yuan in Chongqing, and 3380 yuan in Tianjin, all reflecting a rise of 20 yuan from the previous day [3]. Regional Market Dynamics - The market exhibited a "regional differentiation and local upward" pattern, with East China breaking a prolonged consolidation phase, showing price increases of 20-30 yuan for core varieties [4]. - In East China, the price of chromium-molybdenum steel (Φ50mm) rose to 3850 yuan, with some traders pausing their quotes due to bullish expectations [4]. - North, Central, and South China maintained stable prices, with no adjustments observed in carbon structural steel prices, despite some upward sentiment from East China's price increases [4]. Demand and Supply - The overall transaction volume is still dominated by downstream rigid demand, with replenishment activities aligned with production plans, but no significant increase in proactive inventory accumulation [4]. - The demand has shown marginal improvement, but the overall strength remains limited, leading to expectations of a "stable price and moderate transaction" market in the near term [4].

Core Viewpoint - The domestic special steel market is experiencing a downward trend due to weak downstream demand, leading to price declines across various regions [3][4]. Market Summary - On the 28th, the average price of 45 carbon structural steel (85mm) in major cities is reported at 3618 yuan, down 15 yuan from the previous trading day, while 40Cr alloy structural steel (85mm) averages 3783 yuan, also down 15 yuan [3]. - Key cities show price declines ranging from 20 to 30 yuan, with specific prices reported as follows: Hangzhou 3540 yuan, Changzhou 3480 yuan, Chongqing 3700 yuan, and Tianjin 3360 yuan [3]. - Steel mills are maintaining stable prices, with some adjustments; for instance, Dongfang Special Steel in Changzhou holds the price of 45 carbon structural steel at 3650 yuan, while Hangzhou Steel reduces its price by 20 yuan to 3560 yuan [3]. Industry Performance - The overall trading atmosphere is low, with many downstream processing enterprises adopting a "zero inventory" strategy, showing strong resistance to high-priced resources [4]. - In East China, the price of special steel has significantly declined, with mainstream varieties dropping by 10-20 yuan [4]. - The automotive parts and machinery manufacturing sectors have seen operating rates drop to 60%-65%, with transaction volumes in cities like Wuxi and Hangzhou down over 20% year-on-year [4]. - In North China, prices are broadly declining, particularly for carbon alloy steel, with some specifications of gear steel dropping by 20 yuan [4]. - The market in South China has also weakened significantly, with some specifications seeing price drops exceeding 20 yuan, and the anticipated replenishment before the National Day holiday has not materialized [4].