[SMM Sheets & Plates Daily Review] HRC Futures Closed Slightly Higher, Cost Support Drove Market to Fluctuate at Highs

Published: May 11, 2026 17:26

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HRC futures closed at 3,497 today, up 0.34% for the day. Spot market, HRC rose by 10 yuan/mt, and CR increased by 10-20 yuan/mt, with overall transactions being mediocre. In terms of supply, the impact from maintenance on HRC increased this week, and supply was expected to decline slightly. Demand side, the rise in the futures market drove spot market prices up, but with the off-season approaching and prices currently at relatively high levels, the market largely adopted a wait-and-see attitude. Cost side, the third round of coke increase was implemented, providing strong cost support for sheets & plates. Looking ahead, with the off-season approaching, demand is expected to weaken, but considering cost support and relatively small fundamental pressure on CR and HRC, prices are expected to stay high with fluctuations in the short term.

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