SMM HRC Daily: Futures Decline 0.56%, Regional Inventories Drop Slightly Amid Export Concerns

[SMM HRC Daily Review: HRC Futures Fluctuate Downward, Regional Inventory Slightly Declines]

Today, HRC futures fluctuated downward, with a full-day decline of 0.56%. The most-traded contract eventually closed at 3,376. Market trading sentiment was moderately weak, and HRC transactions were average. On the news front, the recent 25% tariff hike on U.S. imported steel, combined with additional tariffs imposed by Vietnam, South Korea, and other countries on Chinese steel, is expected to suppress China's steel exports. Fundamentally, HRC production fluctuated rangebound, while downstream demand is still in seasonal recovery and ramp-up. The inventories of HRC in Shanghai, Lecong, Tangshan, and other regions, as announced today, all declined but by relatively small margins. Overall, policies during the meeting period may cause disturbances in the futures market, but in the short term, HRC prices are expected to continue fluctuating downward.