SMM Steel Morning Meeting: HRC Prices Fluctuate Upwards Amid Macro Meeting Expectations

Publicado: Dec 4, 2024 07:40
[SMM Steel Morning Meeting Summary: Macro Meeting Expectations Heat Up, HRC Prices Fluctuate Upward!] Yesterday, domestic HRC futures prices fluctuated upward, with the most-traded contract closing at 3,544, up 1.14% MoM. Spot prices continued to follow the upward trend, with mixed market transactions and some traders standing firm on quotes. On the news front, it was reported yesterday that the Central Economic Work Conference might be held from December 11 to 12 to discuss the main development goals for 2025, significantly heating up market expectations for policies. In the short term, with the macro meeting approaching and a warming policy atmosphere, coupled with the fact that the fundamental imbalance of HRC is not yet prominent, the tug-of-war between longs and shorts will revolve around the expectations of the two major macro meetings, awaiting the guidance from the meetings. It is expected that HRC futures and spot prices will continue to fluctuate upward this week, with the price center likely to move higher.

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