SMM Steel Morning Meeting: Macroeconomic Optimism Boosts Hot-Rolled Coil Prices

Publicado: Oct 29, 2024 07:30
[SMM Steel Morning Meeting Minutes: Macroeconomic Expectations Improve Sentiment, Hot-rolled Coil Prices Rise Sharply] In the spot market, prices in many regions have surged by 50-90 yuan/ton, and after the increase, terminal acceptance of prices was generally moderate, with transactions mostly at lower prices. On the news front, the Political Bureau of the CPC Central Committee held a meeting to review the "Comprehensive Report on the Third Round of Inspections by the 20th CPC Central Committee." In the short term, hot-rolled coil production is recovering slowly, with steel plants in regions such as East China and North China still undergoing maintenance this week. Demand remains resilient, and the current fundamentals of hot-rolled coils present minimal contradictions. Coupled with ongoing macroeconomic trading expectations, hot-rolled coil prices are expected to continue in a stronger and volatile trend...

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[SMM Steel Morning Meeting Minutes: Macroeconomic Expectations Improve - Shanghai Metals Market (SMM)