According to SMM, the market weakened, the daily ring ratio decreased by 1.01%, closing at 3615, and spot prices fluctuated. On the supply side, according to SMM research, due to losses, some blast furnaces have undergone annual inspections in advance, and the blast furnace start-up rate this week has decreased by 0.15%, but some short-process steel mills have resumed production due to the completion of technological transformation, offsetting each other, and building materials supply is relatively stable. On the demand side, macro data came out, real estate data continued to bottom out, and the black system market fell. The market transaction atmosphere was cold, and the terminal only purchased according to the immediate needs, and the daily transaction was further compressed.

In the future, on the macro level, the "Belt and Road" initiative will smoothly advance, which may provide new opportunities for Chinese steel, but in the short term, attention should still be paid to the global capital risk aversion caused by the escalation of the Palestinian-Israeli conflict; on the raw material side, prices are expected to remain stable in the short term, steel mills are unable to obtain profits from upstream, or due to loss factors, production will be gradually reduced to meet the actual market demand, and steel prices may continue to be volatile in the short term.