This week, ferrous metals bottomed out after fluctuating downward, with coking coal and coke showing stronger performance than other varieties. At the beginning of the week, the market digested news that the US threatened to impose 100% tariffs on Chinese imports in November. The escalation of Sino-US trade tensions led to weak market sentiment, coupled with persistent supply-demand imbalances, causing finished product futures to fall to their lowest levels in nearly three months. In the latter part of the week, inventory data for the five major steel products showed a decline WoW compared to the first week after the holiday, although hot-rolled coil inventories continued to accumulate. Ferrous metals bottomed out, with hot-rolled coil underperforming other varieties. In the spot market, post-holiday procurement by end-users did not see a significant release, while some speculative demand purchased at low levels, though the volume was relatively small.