HRC Inventory for Week 2 of February 2026

[SMM Stainless Steel Daily Review] SS Futures Pull Back Again, Stainless Steel Spot Market Trading Halts Pre-Holiday SMM, February 12: SS futures ended their previous strengthening trend and fluctuated downward during the day, closing at 13,970 yuan/mt. In the spot market, despite intra-week fluctuations in futures and rising high-grade NPI prices, most spot traders were already on holiday, logistics were suspended, and prices saw little significant change, with daily quotations remaining stable. The most-traded SS futures contract fell. At 10:30 a.m., the SS2604 contract was quoted at 14,080 yuan/mt, up 70 yuan/mt from the previous trading day. In Wuxi, the spot premium/discount for 304/2B was in the range of 90–290 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi was 8,500 yuan/mt; the average price of cold-rolled edged 304/2B coil was 14,100 yuan/mt in Wuxi and 14,050 yuan/mt in Foshan; the price of cold-rolled 316L/2B coil was 26,600 yuan/mt in Wuxi and 26,600 yuan/mt in Foshan; the price of hot-rolled 316L/NO.1 coil was 25,750 yuan/mt in Wuxi; the price of cold-rolled 430/2B coil was 7,800 yuan/mt in both Wuxi and Foshan. On the futures side, driven by weakening macro influences and narrowing fluctuations in nonferrous metal futures, the market showed a relatively stable fluctuation trend at the beginning of the week, with trading activity pulling back. As the Chinese New Year holiday approached, market participants adopted a wait-and-see attitude due to risk aversion and the fact that previous bullish factors had largely been realized. Mid-week, stimulated by news of Indonesian nickel mine approvals being finalized, SHFE nickel futures…

[SMM Silicone Weekly Review: Overall Market Gradually Enters Holiday Season, All Product Prices Remain Stable] This week, domestic silicone DMC prices continued to remain stable, with the mainstream transaction range at 13,800-14,000 yuan/mt, flat WoW. By region, monomer enterprises in Shandong quoted 13,800 yuan/mt, while other major monomer enterprises quoted 14,000 yuan/mt. Demand side, as the Chinese New Year holiday approaches, midstream and downstream enterprises increased holidays, market transactions generally decreased, and new order activity was overall sluggish.

[Market Activity Remains Low, Post-Holiday GO Silicon Steel Prices Expected to Remain in the Doldrums] Futures side, HRC futures fluctuated downward this week, exerting some downward pressure on the cost side of silicon steel, with some traders adopting a cautious wait-and-see approach. Demand side, affected by the approaching Chinese New Year holiday, downstream enterprises gradually suspended operations for the holiday, leading to a significant contraction in procurement demand. Market transactions were largely stagnant in the latter part of the week, with only minimal just-in-time procurement sustaining market activity.