[SMM Sheets & Plates Daily Review] Increased News-Driven Disruptions, Intraday Sheets & Plates Prices Edged Up

Published: Apr 13, 2026 17:26

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In the short term, total inventory is expected to decline at a pace of approximately -1.5% before the Labour Day holiday, with YoY elevated inventory levels remaining the norm. Attention should be paid to whether the destocking pace over the next three weeks meets expectations. In addition, as Iran-US peace talks have made no substantive progress, coupled with the unsettled long-term iron ore contract negotiations, external factors have once again heightened market uncertainty. Combined with the recent surge in semi-finished products export orders, downside support for steel remains strong. The most-traded HRC contract is expected to move sideways within the 3,260-3,320 range in the short term.

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