Recently, the domestic and international steel markets have shown different dynamics. The quotation for hot coils in India continues to remain low. Despite the end of the rainy season in India, the demand for hot coils in the market has not rebounded due to the impact of imported resources from China, and prices are still under pressure. The European rebar market remains stable, and buyers are waiting for further clarification on the future trend of scrap steel prices.

In the international market, the price of wire in the United States may remain stable or slightly decline, influenced by the decline in scrap steel prices. In addition, Brazil's imports of thick plates in September decreased by 87% year-on-year, while Australia conducted an anti-dumping mid-term review investigation on Chinese welded pipes. These international developments have had a significant impact on the global steel market.

At the same time, the domestic steel market presents a situation of strong supply and demand. This Friday, the supply of major types of steel increased, inventory was reduced, and consumption also increased. Among them, building materials consumption increased by 25.5% month on month, and board consumption increased by 3.3% month on month. Looking ahead, as the peak demand season approaches, steel prices are expected to continue to rise.

In terms of raw materials, India's iron ore production increased by 10% year-on-year, and the three major iron ore giants are also aggressively expanding their production capacity. However, this has also sparked controversy over the continuous decline in iron ore prices and the squeezing of small mining enterprises by mining giants. Despite this, mining giants such as Rio Tinto are still defending their strategies and trying to maintain the cost advantage of iron ore.