Overall, as temperatures cool, demand is limited, and transactions are hard to improve. Meanwhile, under the influence of weakening external markets, merchants are in a weak mindset, and local market prices are stable and cautious in the short term. To some extent, this supports market prices, but with colder temperatures, downstream demand is moderate, and actual transactions have not improved, thus price increases are limited. In the short term, with continued weak demand and insufficient market resources and cost support, local market prices are stuck between rising and falling, and are expected to remain stable in the near future. Market shipment conditions are average, and merchants are cautious. The futures market in the morning continued to decline and remained weak. Although the futures market is performing poorly, local manufacturers and merchants have not主动 started to lower prices. Most merchants believe that the current market is demand-driven, and with no improvement in demand, continuing to lower prices will not significantly benefit sales, so they are mainly maintaining a stable and cautious attitude.

Beijing's construction steel market inventory has increased to 290,000 tons, up by 31,500 tons from last week. However, the market sales period has shortened this month, leading to increased sales pressure for merchants. There is a surplus of small threaded steel resources arriving in the market, with prices slightly lowered. Under the heavy sales pressure, the price of ductile iron manhole covers will mainly adjust downwards in the near term. Domestic steel prices have been falling almost straight down, with a small decline, but under the continuous bearish atmosphere of the market, the ductile iron manhole cover market is showing a downward trend. In the face of scarce merchant resources, the construction steel market is experiencing active short-selling and price-cutting, clearly forcing steel mills to significantly reduce their ex-factory prices. Hot-rolled steel is also not immune, with mainstream varieties all set to return to a downward consolidation trend. The central bank's interest rate cut has resulted in an externally loose and internally tight monetary policy, but funding in the steel market remains tight.

As the end of the month approaches, agents and steel traders, who have struggled through the month, are set to face another critical time for placing orders and paying deposits to steel mills; the market's financial tension is intensifying rapidly; it is expected that merchants will accelerate their desire to sell and convert cash, leading to further declines in steel prices. At the same time, the financial market's pressure has prompted the central bank to loosen the taps, following the release of 50 billion yuan in market liquidity last Friday, the central bank announced a rate cut over the weekend, lowering the loan and deposit interest rates by 0.4 and 0.25 percentage points respectively. The market is seeing significant benefits in the stock and futures markets, with limited impact on the real economy, such as real estate; for the steel industry, this cannot directly ease the financial pressure within the industry.