In October, 2.86 million tons of steel were exported, a decrease of 150,000 tons from September, an increase of 5.54% over the same period of last year. From January to October, it exported 36.8 million tons, an increase of 99.8% over the same period last year. In October, China imported 1.14 million tons of steel, which was 180,000 tons less than in September, a decrease of 22.97% over the same period of last year. From January to October, it imported 13.63 million tons, a year-on-year decrease of 8.2%. In the financial market, the domestic market witnessed a decline on the 10th, and the forward price of steel products opened higher.

On November 10, the domestic steel spot market continued to rise. The growth of the long products market declined slightly on the 10th, mainly due to the excessively rapid price increase in the previous period. The wait-and-see mood in the market has risen. In addition, some new resources have been added to the market, and business growth has generally decreased. The flat product market was affected by the continuous rise of the long products market on the 10th. Businesses were bullish on their strong sentiments, and the opening price was slightly raised. However, after the price hike, the market transactions contracted and the price increase momentum was insufficient. On November 10, the Myspic Composite Index was 164.0 points, 0.7% higher than the previous day.

November 10 flat steel index 141.9 points, up 0.4% over the previous day. Among them, the HRC rose by 0.6%, while the medium-thickness index increased by 0.4%, which was a relatively large increase. In the hot-rolling market, the Shanghai market and the Shenyang market rose relatively significantly. Shanghai hot-rolled market merchants were affected by the sharp rise in steel prices nationwide, and they have a strong sentiment. In the morning, they raised their offers. However, with the impact of the midday forward price decline, the market quotations saw a slight correction. At present, the wait-and-see mood in the local market is still permeating the market. Although the number of inquiries calls continue, the market volume is still declining, and the market's overall upward momentum is insufficient. The market price in Shenyang gradually strengthened. With the overall rise of the national hot rolling market on the 10th, local businesses also adopted a follow-up strategy. At present, the inventory in the local market has not increased significantly. Without obvious support, the merchants are mixed for the market outlook. However, due to inflation expectations and the price increases raised by steel mills in previous days, they still chose to increase their prices. On Nov. 10, the hot rolled 3.0mm of Shanghai market and Shenyang market rose by 40 yuan/ton and 30 yuan/ton respectively compared with the previous trading day. In the medium and thick markets, the Chongqing market and Xi'an market have risen significantly. Chongqing Zhonghou market has been relatively active in the recent period. The willingness of middlemen and end-users to purchase goods has become stronger, and the situation of out-of-stock in the market has become increasingly apparent. Affected by this, the market opened on the 10th and the price of businesses continued to rise. The Xi'an market slowed due to the arrival of leading steel mills, and the inventory in the local market showed a declining trend, which gave some support to local market prices. With the support of cost, the market mentality has also improved and prices have risen. On November 10, the medium-thickness 20mm in Chongqing market and Xi’an market rose by 70 yuan/ton and 50 yuan/ton respectively compared with the previous trading day.

On November 10, the long products index was 187.1 points, up 1.1% from the previous trading day. On the 10th, the prices of domestic steel products ran high and low, including 1105, the main screw, which closed at 4770, down 0.91%. In the spot market, local markets continued to increase, but the increase was weaker than in the previous period, with the Beijing market and the Shenyang market rising the most. The turnover on the Beijing market in the previous trading day was still relatively good. At the end of the previous trading day, a large number of major investors raised the quotation. Therefore, on the 10th, the rest of the market generally rose again. In addition, the reduction of new resources brought by steel mills' price increase and energy conservation and emission reduction also support the increase of local prices. Due to the fact that the resources of the local leading steel mills have been limited and the price of the external market continued to increase, the Shenyang market has raised the ex-factory prices, so the market price continued to rise on the 10th. At present, the local market businesses have prepared for the late winter storage. At this time, most of the merchants in the market are generally confused because of the sudden rise in the external market. On November 10th, the HRB335 20mm thread in the Beijing market and Shenyang market rose by 70 yuan/ton and 80 yuan/ton respectively compared with the previous trading day.

Regionally, the East China and Northeast China regions led the gains with a 0.9% increase. Mainly because the prices of building materials in the Shanghai market and the Shenyang market continued to rise sharply. Although the increase in Shanghai's construction materials declined, many varieties of flat products rose, driving the index of the two places to rise.

*Myspic Index, which stands for "My Steel Price Index," is a comprehensive index of China's steel spot prices produced by "My Steel.com" based on daily market prices, which reflects the domestic steel market's major varieties and regional comprehensive price trends.