SMM Hot Rolled Daily: Ferrous Metals Rise, HRC Futures Up 0.24% Amid Tariff Uncertainty

【SMM Hot Rolled Daily Review】Ferrous Metals Series Rose, HRC Trading Atmosphere Heated Up During the Day.

HRC futures strengthened today, with the most-traded contract closing at 3,359, up 0.24%. Spot market transactions improved significantly. On the news front, according to CCTV News, US President Trump stated on March 31 local time that he might announce tariff details on the evening of April 1 or April 2. Additionally, some companies issued coke price hike notices, and coupled with speculative reports on iron ore, raw material prices outperformed steel products today.

Fundamentally, domestic HRC production is expected to increase MoM in April, while domestic demand has limited room for further growth. Additionally, HRC exports in April may pull back due to anti-dumping impacts, leading to a gradual accumulation of imbalances. Attention should be paid to the pace of production rebound and export performance in April. In the short term, considering that HRC inventory continues to decline healthily, prices are expected to fluctuate rangebound.