HRC Futures Fluctuate Slightly as Market Enters Holiday Mode; Inventory Builds Slowly

Publicado: Jan 23, 2025 16:40
The most-traded HRC futures contract fluctuated rangebound today, closing at 3,457 in the afternoon, down slightly by 0.46%. In the spot market, more upstream and downstream enterprises have gradually started their holidays, leading to further shrinkage in spot market transactions. SMM released its weekly HRC balance data today, showing that HRC production continued to increase this week, albeit at a slower pace. According to SMM statistics, the social inventory of HRC across 86 warehouses nationwide (large sample) reached 3.0949 million mt this week, up 175,400 mt (+6.01% WoW) and down 25.38% YoY on a lunar calendar basis. This week marked the start of the Chinese New Year inventory buildup cycle for HRC, with the buildup pace significantly slower than in previous years. Looking ahead, the market is expected to gradually enter a holiday shutdown after the next two days, with HRC prices likely to stabilize before the holiday.

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The most-traded HRC futures contract fluctuated rangebound today, clos - Shanghai Metals Market (SMM)