Hot-Rolled Coil Prices Poised to Stay Strong Amid Bullish Pre-National Day Sentiment

Publicado: Sep 29, 2024 17:28
[Market participants are generally bullish on the market before National Day; hot-rolled coil prices may remain strong in the short term] In the spot market, the overnight market surged significantly last Friday, coupled with generally bullish expectations in the market before National Day, speculative demand dominated, and hot-rolled coil transactions were good. In addition, according to trade feedback, transactions mainly came from peers, with less procurement from downstream terminals, and some downstream terminals have even started to place short orders. In terms of costs, there are expectations for continued increases in coke prices, and spot prices of iron ore have risen, leading to an increase in hot-rolled coil costs. Overall, market participants are generally bullish on the market before National Day, and hot-rolled coil prices may remain strong in the short term. However, there is considerable uncertainty in subsequent market trends...

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