HRC Futures Prices Fluctute Upwards

SHANGHAI, Mar 10 (SMM) - HRC futures prices fluctuated upwards within a wide range yesterday and gained 1.36%. In the spot market, the transactions were acceptable yesterday , driven by rising futures prices while some market players were more wait-and-see.

According to SMM statistics, the social inventory of HRC in 69 warehouses (large survey samples) across China was 4.49 million mt, down 235,100 mt from the previous week. Automobile production and sales picked up in February, and the supply and demand of HRC improved marginally , but the sustainability of the recovery of downstream rigid demand remains to be seen.