Financial Market Sentiment Pessimistic, Limited Decline in Spot Sheets & Plates Prices

Published: Feb 2, 2026 17:32

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Today, HRC futures fell significantly, with the most-traded contract closing at 3,261 yuan/mt, down 1.24% during the daytime session. Spot market prices remained relatively stable, showing no clear follow-on decline and only fluctuating rangebound with a slight drop of 10-20 yuan/mt. Supply side, the impact from maintenance on HRC has returned to a stable phase, with no significant change in HRC production before the holiday. Demand side, manufacturing end-users gradually entered holiday mode this week, leading to a slowdown in purchasing enthusiasm. Today, futures saw a notable decline, prompting spot selling activity, while end-users purchased as needed, resulting in an overall sluggish market atmosphere. Raw material side, hot metal output is expected to rebound MoM, but restocking ....

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