Hot-Rolled Coil Futures Narrow Decline Amid Steel Export Drop and Inventory Pressures

게시됨: Aug 19, 2024 17:36

저장

[SMM Daily Comment on Hot-rolled Coil: Steel Exports Decline MoM; Narrower Decline in Hot-rolled Coil Futures] The hot-rolled coil futures market weakened today, closing at 3,176 in the afternoon, with a loss of 1.27%. Although the decline narrowed, market participants remained cautious, and trading of hot-rolled coils was sluggish. According to SMM's tracking survey, China's total steel exports from ports last week stood at 214, down 19% MoM. Amidst steel plant production cuts, the pressure on hot-rolled coil inventories is still increasing slightly, reflecting the weakness of the steel market. If demand does not improve substantially, it will continue to suppress steel prices. On the raw material side, steel plants' maintenance and overhaul activities are still on an upward trend, with negative feedback persisting. This has weakened the support from raw materials, and consequently, the cost support for hot-rolled coils has also diminished. In conclusion, hot-rolled coil prices are expected to remain weak in the short term, but the downward trend is expected to slow down.

데이터 출처 설명: 공개 정보를 제외한 모든 데이터는 SMM이 공개 정보, 시장 커뮤니케이션 및 SMM 내부 데이터베이스 모델을 기반으로 가공한 것입니다. 본 자료는 참고용이며 의사결정 권고를 구성하지 않습니다.

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