HRC Contract Rises Slightly, Fundamental Imbalance Accumulates

Publicado: Dec 30, 2024 17:28
Today, the most-traded HRC contract rose slightly, closing at 3,433 with a gain of 0.56%. In the spot market, recent price fluctuations were relatively small, with end-users showing strong wait-and-see sentiment, and overall transactions remained sluggish. Looking ahead, some steel mills are still affected by maintenance this week. After entering January, there is an expectation of resumption for steel mills previously undergoing annual maintenance. However, with rebar profits significantly recovering recently, some steel mills are expected to start redirecting part of their pig iron back to rebar production. Further attention is needed on the actual increase in HRC production schedules in January. In the short term, the fundamental imbalance is slowly accumulating, and without the stimulus of favourable macro policies, HRC prices are expected to remain within the current fluctuation range in the near term.

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