The steel industry did not see the "golden September and silver October". The China Iron and Steel Association calls for "self-discipline and production control".

On October 31, the China Iron and Steel Industry Association held a press conference in Beijing. Jiang Wei, Vice President and Secretary General of the association, stated that since entering the third quarter, the traditional "Golden September, Silver October" market has not materialized as expected due to the deep adjustment in the real estate industry. The market trend is weak, affecting enterprise judgment, with rising inventories and monthly profits in the industry continuing to decline. The steel industry urgently needs to establish a new balance of market supply and demand. Senior officials of the association told reporters that in the current downturn of the steel market, it is necessary to further reduce crude steel production, adjust the intensity of steel production in a timely manner, and establish a new balance of market supply and demand, which will play a positive role in promoting the market operation of steel and stabilizing steel production and operation. Data shows that in the first three quarters of this year, steel prices have fallen year-on-year and continued to operate at low levels, with industry revenue falling less than costs. The China Iron and Steel Industry Association believes that the foundation of the new supply and demand dynamic balance in the current steel market is not yet firm, and further strengthening of industry self-discipline is still needed in the fourth quarter.