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Steel market demand in November still has good support

The steel demand in October showed a weak and then strong trend, which brought a good start to the steel market demand in November. In November, China's economic recovery will be further accelerated. The development of the real estate market, the promotion of major national projects, and the recovery of downstream industries such as machinery and automobile will all play a good role in supporting the steel demand in the domestic market.

In terms of the real estate market, from January to September, investment in real estate development increased by 5.6% year-on-year, 1.0 percentage points higher than that in January August; the newly started housing area decreased by 3.4% from January to September, and the decrease rate was narrowed by 0.2%; the land purchase area of real estate development enterprises decreased by 2.9% compared with the same period of last year, with a decrease rate of 0.5% compared with that of January to August; land transaction price was 931.6 billion yuan, an increase of 13.8% 6 percentage points longer. The domestic real estate industry investment rebounded month by month, which provides a good impetus for the sustainable development of real estate. From the market understanding, although the real estate regulation policy is still tightening, the real estate transaction situation is still hot. Therefore, in a comprehensive view, the demand support given by the real estate enterprises to the steel market may continue to maintain a relatively strong trend in the short term.

The automobile industry also has a good performance, automobile production and sales have been growing for six consecutive months, and the growth rate of sales volume has remained above 10% for five consecutive months. With winter approaching, the phenomenon of rush period in northern construction sites will also appear in November. Overall, steel demand in November is still guaranteed.