The output in November will continue to run at a low level.

In October 2021, the national average daily output of crude steel was 2.309 million tons, a decrease of 6.1% from the previous month. It is expected that the output in November will continue to run at a low level.
Under a series of policy adjustments such as strengthening energy supply guarantees, the prices of raw materials and fuels fell sharply in November, and the prices of steel also dropped significantly.
In the short term, there is still a rush to work at downstream terminals in the southern region. Coupled with the periodic rebound of raw material and fuel prices, speculative demand and rigid demand have picked up slightly, the supply and demand of the steel market are weakly balanced, and steel prices still have certain support.
With the gradual decrease in national temperature and weakening of medium-term demand, steel prices may still have room to fall.