[SMM Sheets & Plates Daily Review] Rebar Futures Fluctuated Rangebound, Spot Cargo Trading Slowed Down

Published: Feb 3, 2026 18:15

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HRC futures rose first and then fell today, with the most-traded contract closing at 3,265, down 0.34% intraday; spot market prices remained relatively stable. Supply side, this week's HRC maintenance impact stood at 274,500 mt, up 12,000 mt WoW, while next week's HRC maintenance impact is expected to be 24.59 mt, down 28,600 mt WoW; HRC production remained stable WoW ahead of the holiday. Demand side, manufacturing end-users gradually entered the holiday period this week, with purchasing enthusiasm slowing down and end-users purchasing as needed. Raw material side, hot metal output is expected to rebound MoM, but pre-holiday restocking by steel mills has temporarily concluded, leaving cost support neutral. Looking ahead, sheets & plates lack clear short-term drivers and are expected to continue fluctuating rangebound following capital market sentiment.

HRC futures rose first then fell today, with the most-traded contract closing at 3,265, down 0.34% intraday; spot market prices remained relatively stable. Supply side, this week's HRC maintenance impact reached 274,500 mt, up 12,000 mt WoW; next week's HRC maintenance impact is projected at 24.59 mt, down 28,600 mt WoW, while HRC production remained stable WoW ahead of the holiday. Demand side, manufacturing end-users gradually entered holiday mode this week, purchasing enthusiasm slowed down, with end-users purchasing as needed. Raw material side, hot metal output is expected to rebound MoM, but pre-holiday restocking by steel mills has temporarily concluded, leaving cost support neutral. Looking ahead, sheets & plates still lack clear short-term drivers and are expected to continue fluctuating rangebound following broader market sentiment.

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