Internationally, this month's focus is on the Federal Reserve's interest rate cut. US consumer confidence fell to its lowest level since May in September, and long-term inflation expectations rose for the second consecutive month, driven by concerns about the labor market and prices that are weighing on the economic outlook. This increases the likelihood of a rate cut.
In addition, China's recent policy announcements have signaled its determination to further strengthen monetary and fiscal policies and expand domestic demand to combat inflation. This week's events were relatively quiet, but starting next week, with the arrival of peak season demand and pre-stocking for the National Day holiday, speculation will gradually emerge. Overall, macroeconomic sentiment is showing signs of warming. This week, galvanized steel coil prices have fluctuated and increased by 10-30 yuan.
With the Fed's rate cut and the hype surrounding pre-stocking for the National Day holiday, the market is prone to speculation. Furthermore, the recent correction in products like rebar has been somewhat oversold, and there is clear demand for a technical rebound. Therefore, fueled by the expected news hype, there is still room for a further rebound.
