[Steel market] Data show that in the week of August 28, the weekly output of rebar decreased by 43500 tons to 3806200 tons on a month on month basis, with a year-on-year increase of 9%. Although there was a certain reduction, it was still at a high level. The total inventory has continued to rise since the beginning of June. In the week of August 28, the social inventory of rebar continued to increase by 112600 tons to 8780800 tons, an increase of 2.69 million tons on a year-on-year basis; the steel mill inventory also continued to increase by 132000 tons to 3806400 tons, with a year-on-year increase of 1107400 tons. Steel production and inventory continued high, will bring pressure to the market. On the other hand, the high temperature and rainy weather in the past did not affect the performance of rebar, not only the off-season was not light, but also continuously set a new high. With the advent of peak season, the follow-up demand has certain support.

[Metal magnesium market] The terminal demand continues to be weak, the export market is depressed, and the price of magnesium remains low. However, recently, the price of ferrosilicon has risen strongly, and some factories are willing to stabilize the market. It is expected that the decline rate will be narrowed in the near future. Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was around 12700 yuan per ton.