[SMM Sheets & Plates Daily Review] Costs Pushed Prices Higher; Short-Term Hot- and Cold-Rolled Prices May Hold Up Well

Published: Mar 9, 2026 17:19

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Affected by the geopolitical conflict in the Middle East, energy-sector prices climbed intraday, lifting ferrous metals broadly, with raw materials outperforming steel.
In the short term, during the Two Sessions, the macro environment was relatively supportive; coupled with heightened energy-sector price fluctuations caused by the geopolitical conflict, steel prices were expected to be supported by costs and hold up well. Watch for the end of the Two Sessions and changes in the Middle East situation. In the absence of domestic and external news catalysts, current steel demand provided limited price support; be alert to downside risk in steel prices after trading around the Two Sessions and the geopolitical conflict cools.

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