SMM HRC Daily: Prices Fluctuate Down; Market Awaits Macro Meetings' Impact

Publicado: Dec 6, 2024 17:30
[SMM HRC Daily Review: HRC Prices Fluctuate Downward, Market Awaits Macro Meetings] HRC futures fluctuated downward during the day, with the most-traded contract closing at 3,477, down 1.31% MoM. Spot market transactions were mixed, with moderate sales at lower prices and some merchants reluctant to sell. This week, HRC spot prices rose first and then fell. Looking ahead, next week’s political and economic meetings will be held intensively, reopening the macro window, which may stimulate some speculative and restocking demand. However, caution is advised as market sentiment may cool after the macro events. Fundamentally, there is room for increased HRC production next week, but reducing inventory further should not be difficult. Overall, it is unlikely that there will be unexpectedly favorable policies next week, but the fundamental imbalance of HRC is not significant. The HC2501 contract is expected to fluctuate rangebound between 3,390 and 3,600 next week.

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[SMM HRC Daily Review: HRC Prices Fluctuate Downward, Market Awaits Ma - Shanghai Metals Market (SMM)