Publicado: Oct 20, 2023 19:29
According to SMM, today's hot-rolled futures fluctuated downward, closing at 3729, down 0.51%. In the spot market, hot-rolled prices in mainstream regions of the country fluctuated this week. This week, the impact of hot-rolled maintenance increased significantly, weekly output decreased significantly, and supply pressure was relieved. In terms of inventory, terminal demand has improved recently, and inventory has decreased on a year-on-year basis. Looking ahead, the impact of hot-rolled maintenance in steel mills will continue to increase next week, and it is expected that the supply side will still have room to decline; on the demand side, downstream terminal purchases remain cautious, and it is expected that demand will run moderately as a whole, and it is difficult to exceed expectations. At the same time, although the profitability of steel mills is still poor, the reduction in production has not reached the expected level, and the difficulty of deep negative feedback in the short term is large. In general, market confidence is weak, steel mills and traders are under cost pressure, and it is expected that hot-rolled prices will continue to fluctuate in a narrow range next week. It is expected that the HC2401 contract will fluctuate in the 3680-3800 range.

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