Ferrous Metals Rose Across the Board, Coil Prices Expected to Hold Up Well in the Short Term

Looking ahead, few additional maintenance shutdowns are scheduled for mid-to-late April, and steel mill production is expected to fluctuate around 3.23 million mt. On the demand side.

On other fronts, cost trends have strengthened recently. Hot-rolled coil prices are expected to hold up well, tracking costs, with attention on the 3,350 level on the upside for the most-traded contract. Considering that further price gains would require additional bullish stimulus from external or fundamental factors, a breakout above 3,350 is expected to be difficult.