The futures steel fell sharply again, and the steel price is going to cool again?

Yesterday, the steel spot market was generally stable, and some markets weakened in the afternoon.
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In the afternoon, the disk market weakened. On the one hand, it was macro negative. The three major indexes collectively opened lower, and commodities generally weakened. On the other hand, steel demand continued to be sluggish, shipments were not good, and the rebound was weak. The off-season for seasonal demand is approaching, and steel mills around the world are voluntarily limiting or reducing production, and supply will continue to decline in the future. However, at present, the reduction of production by steel mills cannot alleviate the contradiction between supply and demand. At the same time, there is a shortage of drivers and transportation capacity, which cannot allow resources to effectively reach their destinations. In addition, due to the increased loss of steel, the arrival of hot coils in some markets in East China and South China decreased, and there was a structural allocation of market resources.
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From the perspective of downstream demand, the demand for steel downstream industries such as real estate, automobiles, and construction machinery generally declined in the first half of the year. However, after the September data came out, automobiles and shipbuilding all showed an upward trend in the September data, and real estate was still in investment, new Indicators such as construction start and land acquisition area continued to decline.
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In the short term, steel prices are still under certain pressure and their performance is weak. Whether it can continue to fall depends on whether the futures will guide downwards again on the one hand, and on the other hand, in the case of clear demand, to see whether the production reduction can have an effect.