01

On October 10th, the third LSAW production line of Hebei huayang steel pipe was put into production, the first steel pipe API 5L PSL2 X70 OD500MM X 20MM X 14M was successfully trial-produced, a month ahead of the original plan. This is Huayang Speed. Preparing for production is being intensively prepared, which will mean that Huayang Steel pipe has reached a new level in the field of large-diameter steel pipes.

02

The first plenary session of the 20th Central Committee of the Communist Party of China was held in Beijing on October 23, 2022. There were 203 members of the Central Committee and 168 alternate members of the Central Committee attended the plenary session. Members of the Central Commission for Discipline Inspection attended the meeting. Xi Jinping, General Secretary of the CPC Central Committee, and Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, and Li Xi, members of the Standing Committee of the Political Bureau of the CPC Central Committee, were elected at the meeting. Comrade Xi Jinping presided over the meeting and delivered an important speech after being elected general secretary of the CPC Central Committee.

03

Chinese steel factories are generally in a loss state, and due to the high prices of raw materials and falling prices of finished products, steel factory losses continue to have a tendency to expand. Recent steel prices have been changing unstable, as expected in previous years into the fourth quarter, the Chinese market will usually have a small pull-up, mainly infected by the impact of winter production restrictions, fewer resources put in place, customers increased winter storage, steel prices play a specific supportive role. But this year the actual market situation so far there is no sign of pull-up, mainly by the impact of weak demand. The expansion of steel mill losses may force more steel mills to take the initiative to regulate production, the supply side has a small contraction is expected. The current market sentiment is cautiously wait-and-see, customers purchase on demand, and overall steel demand is not very good. In the short term, the steel market or a continuation of the fragile balance, the floating steel prices are still in weak.