SHANGHAI, Jul 6 (SMM) – HRC futures contract closed up 0.18% at 3,860 yuan/mt today. Spot prices mostly rose as well, but overall trades were mediocre. Some steel mills in north China began maintenance this week, while output of some steel mills in east and north China rose. Overall, HRC output is estimated to rise this week. HRC supply pressure may ease next week with some steel mills in north China planning maintenance. Social stocks continued to rise amid cautious purchases by end users, with sharp stock accumulation in east, south and central China. Coke and iron ore prices will offer some support to HRC prices. Expectations for stimulus policies will keep HRC prices firm.
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