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       CISA stated that participants in the Chinese finished steel market in October should pay attention to many factors.
       First, the inventory level of finished steel has increased. As of October 10, large and medium-sized steel companies in 20 key cities across the country had 10.85 million tons of finished steel products, an increase of 200,000 tons from September 30, an increase of 1.9% and a year-on-year decrease of 14.2%. last year.
       Secondly, according to China Steel Association data, during September 21-30, the average daily crude steel output of China Steel Association members was 1,768,800 tons, down 11.18% from mid-September, while it was 1,873,200 tons on October 1-10. A year-on-year increase of 5.9%. Starting in late September, it indicated that steel manufacturers resumed production after the National Day holiday.
       The third is that as of September 30, the China Iron Ore Price Index (CIOPI) was US$118.58/ton, a decrease of 22.14% month-on-month and a year-on-year increase of 2.82%. Although the price of imported iron ore has fallen, the prices of coking coal and scrap have increased, pushing up the production costs of steel companies.
       It is expected that as the weather turns cold, steel demand will slow down. China’s steel prices are expected to fluctuate within a limited range. The central government plans to reduce steel production throughout 2021, which will boost steel prices due to limited supply.