[SMM Sheets & Plates Daily Summary] Strong cost side, moderate demand, HRC prices consolidate at highs

Published: Sep 9, 2026 17:13

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Today, the most-traded HRC contract settled at 3,385, up 0.15% for the day. In the spot market, cold-rolled and hot-rolled prices held steady. Trading was relatively moderate today, dominated by low-price deals, with no additional end-use demand release. Today's HRC city inventory data showed slight destocking in Shanghai, Lecong, and Zhangjiagang, while Tangshan saw inventory buildup. Overall, HRC social inventory is expected to see a slight decline this week. On the cost side, supply and demand supported a firm coking coal and coke market, while iron ore prices also showed a consolidation pattern due to demand and cost factors, providing relatively strong cost support for HRC. In the short term, with strengthening cost support for HRC but insufficient follow-through from end-use demand, the most-traded HRC contract price is expected to continue to consolidate at highs.

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