Baosteel, a major steel mill in China, announced to keep most of the product prices unchanged for November, and the price of electro-galvanized coils was up by CNY100-200/ton.

According to market analysis, the fourth quarter is the traditional peak season for the production of home appliances. In addition, China's government has announced the extension of the new energy vehicle purchase tax exemption. The demand was expected to recover.

Market participants pointed out that the purchase increased after China's holidays. Meanwhile, China's government implemented many construction and investment. The fourth quarter of the steel market is worth looking forward to.