SMM HRC Daily: Tariff Policy Shift Boosts Futures & Spot Prices Intraday

【SMM HRC Daily Review】Tariff Policy Changes Again?! HRC Futures and Spot Prices Strengthened Intraday

Today, HRC futures prices fluctuated and strengthened, with the most-traded contract closing at 3,233, up 1.41%. In the spot market, rising quotations improved the trading atmosphere. On the news front, US President Trump publicly acknowledged on Tuesday (April 22) that the current tariffs on Chinese exports to the US are too high, and he expects a significant reduction in rates. This marks a softening of Trump's stance on his signature tariff policy. Additionally, the destocking of the five major materials is expected to continue this week, with a noticeable improvement in market sentiment. In the short term, the probability of domestic key meetings releasing policies beyond expectations is low, and attention should be paid to the impact of changes in US tariff policies. On the fundamental side, driven by demand from some downstream industries and pre-export activities, HRC demand remains resilient, and short-term HRC prices are expected to fluctuate between 3,160 and 3,300.