Publicado: Jul 3, 2024 17:09
【SMM Daily Review of Hot-rolled Coil: Futures Market Strengthens, Spot Market Transaction Improves?】Today, the futures market for hot-rolled coil saw volatile gains, closing at 3809 in the afternoon, with a 1.2% increase. In the spot market, mainstream cities' prices were all up, with an increase of 10-30 yuan/ton. As futures prices fluctuated upward, the market transaction atmosphere improved, and traders actively sold their goods. On the supply side, this week's iron and steel production volume increased slightly from the previous week, and steel mills still have profits in producing hot-rolled coils, with their enthusiasm remaining unchanged. It is expected that the supply of hot-rolled coils will continue to be under pressure. On the demand side, downstream terminals still mainly purchase based on their needs, and demand is difficult to boost. At the same time, the social inventory data of some mainstream markets for hot-rolled coils were released during the day, showing a slight decrease in inventories in Shanghai and Tangshan markets, while the inventories of Lecong hot-rolled coils still increased month-on-month. Please continue to pay attention to tomorrow's weekly balance data for SMM hot-rolled coils. Overall, the fundamentals of hot-rolled coils have accumulated some contradictions, but there is still support on the cost side. It is expected that hot-rolled coil prices will maintain volatile movements in the short term.

Declaración de Fuente de Datos: Excepto la información disponible públicamente, todos los demás datos son procesados por SMM basándose en información pública, comunicación de mercado y confiando en el modelo de base de datos interna de SMM. Son solo para referencia y no constituyen recomendaciones para la toma de decisiones.

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