[SMM Steel] Pasar HRC India Tertekan oleh Permintaan Lemah dan Likuiditas Ketat

The most-traded HRC contract rose initially before weakening during the daytime session, closing at 3,291 with a gain of 0.21%. In the spot market, HRC spot prices fell by 5-10 yuan/mt, while CRC spot prices remained stable. In terms of supply, HRC production fell by 31,100 mt WoW this week as some mills added short-term rolling line maintenance. Overall, HRC supply pressure remained low and little changed. Demand side, futures were volatile today, with some low-price volume occurring in the morning before transactions weakened in the afternoon. Overall trading improved compared to the previous few days. Cost side, daily average hot metal output fell by 13,500 mt WoW this week, and the first-round coke price cut was implemented. However, futures had previously priced in multiple rounds of cuts, and with tightened safety inspections and elevated oil prices, cost support persists. In summary, off-season characteristics are deepening, with total HRC inventory continuing to accumulate. However, before macro expectations are disappointed and while cost support remains, HRC prices are expected to continue consolidating in the short term.

[Lembaran & Pelat] Hari ini, harga ekspor coil canai panas (HRC) dan lembaran & pelat lainnya naik $1-2/mt dibanding kemarin, dengan harga transaksi HRC di $487-492/mt. Pasar berjangka Tiongkok menguat hari ini, dan pedagang melaporkan bahwa transaksi tidak sebaik beberapa hari sebelumnya, sementara penerimaan pesanan di pabrik baja juga kurang dari perkiraan.

JSW Steel memperkirakan produksi dan penjualan akan menguat mulai kuartal kedua tahun fiskal 2027 seiring dengan peningkatan operasi Blast Furnace-3 yang diperluas di Vijayanagar, sembari menegaskan kembali jalur ekspansi kapasitas yang agresif mencakup Dolvi, Odisha, Utkal, dan Kadapa. Meskipun ada penghentian BF-3 yang direncanakan, perusahaan mencatat rekor penjualan baja kuartal pertama sebesar 6,25 juta ton, didukung oleh permintaan domestik yang tangguh dan kenaikan ekspor 46% secara tahunan.