Asian steel market is expected to be dominated by weak operation in November

In October, Asian steel market prices fell. China's domestic composite price in October was 610 usd, down 12 usd from last month and 1.8% month on month. Among them, the price of steel plate fell by 11 usd to 606 usd, down 1.7%.

Despite China's implementation of the environmental protection policy of stopping production and limiting production, the global steel supply has not slowed down. The expansion of production capacity in some other countries continues to bring pressure on steel supply. For example, Iran's exports have increased greatly due to the expansion of production capacity. According to the latest report of the association of iron and steel producers of Iran, Iran exported a total of 5.89 million tons of finished and semi-finished steel products in the first half of this year (March 21 to September 22), an increase of 40.84% over the same period of last year, including 1.87 million tons of finished steel products, an increase of 37% over the same period of last year. Among them, long products account for the largest share in the export of finished steel products, with a cumulative export of 1.39 million tons (74.52%), a year-on-year increase of 67%. Looking forward to the future, it is expected that the Asian steel market will be dominated by weak operation in November.