Is the sharp drop in construction steel prices a signal for the next HRC price drop?

US: US HRC price ranges from $800-810/tons, CRC price ranges from $1190-1200/tons, with a slight increase compared to last week.
China: China’s price on the morning of October 10 has slightly increased by $5-10/tons to stimulate demand, HRC SS400 price is at $550-555/tons, SAE1006 is at $575-580/tons. Meanwhile, steel billet price adjusted slightly lower than last week after the Chinese National Day holiday.
Vietnam: Formosa stopped cutting prices in September, while Hoa Phat increased slightly for the domestic market. In October, the price is expected to increase sharply if China’s futures market keeps the current increase. Accordingly, many traders said that the market will rebound after Formosa sets new prices this week or next. Normally Formosa will release new prices from 10th to 15th of every month.
At the beginning of the week, there was a sharp change in construction steel price, domestic mills all reduced prices with a decrease of $12-15/tons, which is considered a fairly strong decrease after the previous week’s price drop of about $10/tons. .