HRC Futures Fluctuate, Steel Prices Seen Stabilizing Amid Holiday Season

Publicado: Jan 20, 2025 17:47
The most-traded HRC futures contract fluctuated today, closing at 3,472 in the afternoon. In the spot market, as the Chinese New Year approaches, trading activity across the industry chain has noticeably cooled, and spot market transactions were moderate. In the short term, pig iron production maintained its growth trend, with cost support remaining stable for now. Regarding the fundamentals of HRC, the current pace of inventory buildup is significantly slower than in previous years. Although January supply continued to rise, year-end downstream manufacturing demand also demonstrated strong resilience, keeping fundamental imbalances temporarily low. Considering the short-term macro policy vacuum and the market gradually entering the holiday period, steel prices are expected to fluctuate upward this week before stabilizing.

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The most-traded HRC futures contract fluctuated today, closing at 3,47 - Shanghai Metals Market (SMM)