[SMM Sheets & Plates Daily Review] HRC Futures Maintained Fluctuating Trend; Attention on Raw Material Price Changes
HRC futures dipped before rebounding today, with the most-traded contract closing at 3,282, up 0.06% WoW. Spot market side, market quotations showed mixed performance, overall trading was relatively lackluster, though transactions at lower prices were moderate. In terms of supply, the impact from maintenance on hot-rolled production was 106,400 mt this week, down 88,800 mt WoW, while next week's hot-rolled maintenance impact is expected to be 11.7 mt, an increase of 10,600 mt WoW, with overall supply still on an increasing trajectory. Demand side, end-user purchase enthusiasm was unlikely to exceed expectations, with most purchases made on an as-needed basis at lower prices. Inventory side, mainstream city inventory data was released today, with varied performance across markets....