Publicado: Apr 15, 2024 17:53
【SMM Hot Rolled Coil Daily Review: Futures Initially Suppressed and Then Rebounded, Caution Against Macroeconomic Disturbance】Today, the hot rolled coil futures market was initially suppressed but rebounded later, closing up 0.32% at 3780. In the spot market, prices in mainstream cities fluctuated narrowly with overall weak trading volume. Traders are cautious and reluctant to raise prices. On the supply side, some steel mills have maintenance plans in late April, but production remains high due to profit motivation. On the demand side, current end-user demand is concentrated after a rebound, with a cautious inventory mindset if prices stabilize and speculative demand released when prices fall. Overall, under high supply pressure, hot rolled coils face accumulating contradictions in their fundamentals. The market is currently driven by expectations of raw material demand supporting costs. Short-term hot rolled coil prices are expected to continue following the rebound in raw material prices, but the supply-demand dynamics will limit the extent of the rebound. Attention should be focused on the release of real estate data tomorrow and its impact on market sentiment.

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