HRC Prices Moved Sideways during the Day, with Limited Short-Term Upside and Downside Room

Published: Jun 3, 2026 17:20

Save

HRC futures closed at 3,386 today, down 0.35% for the day. Spot side, spot prices of cold-rolled and hot-rolled coils fell 5-10 yuan/mt, with overall trading performance being mediocre.

In the short term, the upside room for sheets & plates prices is constrained by the domestic demand off-season and cooling exports, while downside cost support remains strong. Neither the upside nor downside window has opened, and sheets & plates prices are expected to move sideways within a price range in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

MMi Daily Iron Ore Report (June 3)

The DCE iron ore futures traded weak today. The most-traded contract I2609 closed at 780 yuan/mt, down 0.57% from the previous trading session. Port spot prices fell 3-5 yuan/mt from the previous day. Traders showed moderate enthusiasm in offering prices; steel mill purchases were mostly driven by rigid demand; overall spot market transactions remained thin as of now.

2 hours ago

6.3 SMM Global Steel Daily Report

SMM News Flash: [Billet] Today, export steel billet offers held steady. It was learned that regional offers showed slight divergence — northern offers were generally higher with steel mills showing weak willingness to sell, while east China offers were relatively lower but still above buyer expectations, resulting in mediocre transaction activity. [Indonesia] A steel mill in Indonesia offered HRC export prices at 515 USD/tonne FOB for July. Market rumors suggested that prices still faced further downward pressure, as most steel mills had not yet received sufficient orders for July.

2 hours ago

[SMM Hot-Rolled Coil Daily Trading] Spot Trading Volume Narrowly Decreased

[SMM Hot-Rolled Coil Daily Trading] On June 3, the combined daily trading volume of hot-rolled coil from SMM's sample enterprises across four cities (Shanghai, Lecong, Tianjin, and Ningbo) totaled 13,880 mt, down 680 mt DoD (-4.9%), up 41.92% YoY (solar calendar), and up 23.05% YoY (lunar calendar).

2 hours ago