[SMM Sheets & Plates Daily Review] HRC Futures Fluctuated and Are Expected to Remain Range-Bound in the Short Term

Published: Feb 5, 2026 17:55

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HRC futures edged down today, with the most-traded contract closing at 3,263, down 0.4% intraday. Spot market prices dipped slightly. Supply side, HRC production this week stood at 3.1925 million mt, up 10,400 mt WoW, though the increase remained limited ahead of the holiday. Demand side, more regions entered holiday mode, coupled with weak futures performance, end-user procurement demand further declined. Raw material side, hot metal output rose 21,000 mt WoW, but restocking at steel mills ahead of the holiday has temporarily concluded, leaving cost support neutral. Looking ahead, as demand weakens, HRC inventory has accumulated, but the overall increase aligns with seasonal trends. Spot procurement is expected to become increasingly sluggish before the holiday, while HRC futures may ...

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