The latest market report provided by "My Steel", a well-known domestic steel information agency, shows that the domestic spot steel price composite index closed at 123.6 in the last week, down 4.84% in one week. Due to poor market transactions and high inventory in the steel market, the volume of terminals has not been stimulated after the price reduction of merchants. In addition, the steel (29 12, -39.00,-1.32%) futures market plummeted, billet prices fell frequently, and the panic in the spot steel market, which was originally weak in confidence, spread, and merchants could only further kill the plate and ship.