Hot Rolled Coil Market: Unexpected Inventory Buildup Weighs on Prices, Outlook Remains Weakly Fluctuating

Publicado: Sep 6, 2024 07:30
【SMM Steel Morning Meeting Summary: Inventory Reduction Falls Short of Expectations, Hot Rolled Coil Prices May Fluctuate Weakly】In the spot market, futures continued to plunge sharply, the trading atmosphere was bleak, downstream buyers stayed away, and hot rolled coil transactions were poor. This week, according to SMM statistics, the social inventory of hot rolled coils in 86 warehouses (large sample) nationwide was 4.8965 million tons, up 71,800 tons or 1.49% from the previous week, and up 18.65% year-on-year. Regionally, except for inventory reductions in the Northeast and North China markets, the East China, Central China, and South China markets are still experiencing inventory accumulation, with the rate of accumulation expanding. In terms of costs, raw material prices are facing difficulties in both rising and falling, and the cost support for hot rolled coils remains stable for the time being. In summary, the inventory reduction of hot rolled coils falls short of expectations...

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【SMM Steel Morning Meeting Summary: Inventory Reduction Falls Short of - Shanghai Metals Market (SMM)