Today's hot rolled futures fluctuated, closing at 3918, up 0.51%. In t

Published: Jul 24, 2023 18:39

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Today's hot rolled futures fluctuated, closing at 3918, up 0.51%. In the spot market, the mainstream cities in the country reported a steady increase in hot rolled prices today, and the spot market transactions were generally average. On the supply side, there are still some steel mills in the north this week that have maintenance plans, and the hot rolled output may fluctuate slightly from last week, and the supply pressure is still not obvious. On the demand side, terminals are still mainly purchased on demand, and the release intensity is not large. At present, the spread is narrowing, and the speculative demand for spot and futures is weakening. Generally speaking, the fundamentals of hot rolled are relatively stable at present. Under the support of raw material and macro strong expectations, the price of hot rolled is easy to rise and difficult to fall. This week, there will be a lot of disturbance factors in the domestic and foreign macro news. If the Fed exceeds expectations and stops raising interest rates or releases the signal that this is not the last time to raise interest rates, market confidence will be further strengthened. It is expected that the short-term hot rolled price will fluctuate widely.

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