The domestic market in October
The overall domestic steel market in China has declined weakly in October, so does the market price. The market demand has stagnant during the Chinese National Holiday in October, however, the production capacity has maintained in normal. After the Chinese National Holiday, the market needs and supply still miantained in a unbalanced level.
In Novermber, the north of China will gradually into the construction season, the market deman will be more sluggish. Most of steel products will be provided in the Southern Chinese Market. In November, Platts Index has probed to $ 45 -50 again. Continued weakness in the manufacturing PMI and PPI continued to decline. The economy is facing structural deflationary pressures, despite the recent approval of the steady growth of centralized projects, but in the case of project funds are not in place does not show the actual results. Therefore, in November, the stel market will continue to decline in China.