The steel market is expected to stabilize or even rebound after falling in October

As of the 27th, the price of steel in September was out of the trend of rising and falling. The composite steel price index fell by 75 from the end of the previous month. In terms of varieties, thread, wire, plate, and hot rolled fell by 98, 34, 53, and 151 respectively. Cold rolled prices rose by 32, comprehensive, wire rod, and cold rolled monthly average prices rose by 13, 36, and 186 respectively. Medium plates were flat. Thread and hot rolled fell by 25 and 53 respectively. The ex-factory prices of most plate companies are rare this year. The dollar index of 62% imported iron ore fell by 9 (US dollars) at the end of the period compared with the end of the previous month, the scrap steel price index fell by 33, and the coke price index rose by 89. From the average price, iron ore, scrap and coke rose by 2 (US dollars) respectively , 69 and 42 points, basically in line with expectations. 

Looking ahead to the October steel market, only further declines in prices of products under fundamental pressure can fully release their pessimism, forcing some steel companies to reduce their enthusiasm for production, thereby consolidating the basis for a rebound, and increasing differentiation in different regions and varieties.