Iron ore has seen mainly horizontal fluctuations over the past week without significant ups and downs. However, coking coal has basically secured a 100 yuan increase, pushing up steel mill costs further. With overseas coal prices remaining high and a significant price gap between domestic and international markets, the inflationary pressure from energy input due to the energy crisis remains considerable. Moreover, since coke plants also lack much profit margin, this strengthens the support for the cost of carbon-based raw materials. Additionally, pre-20th Party security inspections in various regions are also supporting the market overall.Including the implementation of the economic stabilization policies already launched by the State Council, as well as targeted meetings and policies. Especially focusing on effectively utilizing two important policy tools recently introduced. Shandong precision cold drawn hexagonal steel pipe manufacturer and non-standard pipe processing factory: Firstly, make good use of policy-oriented and development-oriented specifications tools to accelerate infrastructure construction projects. Secondly, make good use of special re-loans, fiscal subsidies, and other policies. In the latter, the central bank has established a special re-loan for equipment upgrading and transformation, providing targeted support to institutions at an interest rate not exceeding 3.2% for the manufacturing, social service sectors, and small and medium-sized enterprises.Aiming to stabilize the economic aggregate and boost consumption. However, it's also crucial to recognize the negative aspects, particularly as the clearance of steel pipe enterprises in this round is not yet complete, and the subsequent risks of steel pipe and local government debt are yet to be fully released. Moreover, the manufacturing sector is facing weak external demand and insufficient domestic demand recovery. The Caixin Manufacturing PMI index shows that both supply and demand in the manufacturing sector are weak, exacerbating the deterioration of employment conditions. The Manufacturing Employment Index in September fell into the contraction zone, recording the lowest level since May 2020. This is also a source of market concern.