Telah Terbit: Oct 28, 2023 23:57
According to SMM, today's hot-rolled futures market ran sideways, with a slight pull-up at the end of the day, closing at 3795, up 0.05%. In the spot market, the quotation of hot-rolled in mainstream regions of the country remained stable today. According to SMM statistics, the impact of steel mill maintenance is concentrated, hot-rolled output continues to decline, and supply pressure continues to ease; on the demand side, after the price tends to be stable, the terminal wait-and-see sentiment is revived, mainly for just-needed procurement, and the overall situation is not optimistic. On the raw material side, the supply and demand pattern of coke is weak, the inventory of iron ore port is generally low, which has certain support for ore price, and the cost side still has resilience to support the price of coil. During this week, under the condition of supply reduction and demand increase, the inventory of hot-rolled has decreased for three consecutive weeks, but the increase of table demand is limited, and it remains to be seen whether the inventory reduction rhythm can be maintained in the future. The overall inventory pressure is still large, and the fundamentals are difficult to achieve substantial improvement. It is expected that the short-term hot-rolled price will continue to fluctuate.

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