[ArcelorMittal Spain Signs Record Energy-Savings Deal]

The most-traded HRC contract rose initially before weakening during the daytime session, closing at 3,291 with a gain of 0.21%. In the spot market, HRC spot prices fell by 5-10 yuan/mt, while CRC spot prices remained stable. In terms of supply, HRC production fell by 31,100 mt WoW this week as some mills added short-term rolling line maintenance. Overall, HRC supply pressure remained low and little changed. Demand side, futures were volatile today, with some low-price volume occurring in the morning before transactions weakened in the afternoon. Overall trading improved compared to the previous few days. Cost side, daily average hot metal output fell by 13,500 mt WoW this week, and the first-round coke price cut was implemented. However, futures had previously priced in multiple rounds of cuts, and with tightened safety inspections and elevated oil prices, cost support persists. In summary, off-season characteristics are deepening, with total HRC inventory continuing to accumulate. However, before macro expectations are disappointed and while cost support remains, HRC prices are expected to continue consolidating in the short term.

[Sheets & Plates] Today, export prices of hot-rolled coil (HRC) and other sheets & plates rose $1-2/mt DoD, with HRC transaction prices at $487-492/mt. China’s futures market rose today, and traders reported that transactions were not as good as in the previous few days, while order intake at steel mills also fell short of expectations.

JSW Steel expects production and sales to strengthen from Q2 FY27 as the expanded Blast Furnace-3 at Vijayanagar ramps up, while reaffirming an aggressive capacity expansion pipeline spanning Dolvi, Odisha, Utkal and Kadapa. Despite the planned BF-3 shutdown, the company reported record first-quarter steel sales of 6.25 million tonnes, supported by resilient domestic demand and a 46% year-on-year increase in exports.