Today's hot coil futures rose slightly, closing at 3851, up 0.21%. In

Published: Sep 11, 2023 19:14

Save

Today's hot coil futures rose slightly, closing at 3851, up 0.21%. In the spot market, the mainstream cities in the country reported a hot coil price increase of 10-40 yuan/ton. On the demand side, the short-term downstream order volume has not changed significantly, and the terminal procurement is difficult to improve in essence. The policy effect of the previous real estate and manufacturing industry is still needed. According to the latest survey of SMM, steel mills are still highly motivated to produce hot coils, and the daily production in September increased by 1.12% compared with the previous month, and the supply pressure is difficult to reduce in the short term. On the cost side, iron ore supply and demand are both strong, and there is limited space below, and the cost support of coke is also strong, so the cost center of hot coil is still high. Therefore, under the condition of strong supply and weak demand, the upward space of hot coil is limited, but there is cost support below, and it may oscillate narrowly in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

42 mins ago

Magnesium Prices Rise for Three Consecutive Sessions! Cost Side Remains "Burning Hot" While Demand Side Struggles to Take Over [SMM Commentary]

42 mins ago

1 hour ago

[ Canada to Impose 50% Retaliatory Tariff on US Steel ]

The Canadian government announced a 50% retaliatory tariff on United States exports of steel and aluminum, scheduled to take effect on September 8, 2026. The aggressive trade measure directly responds to the recent collapse of bilateral metal trade negotiations and the implementation of US tariffs. The cross-border penalties threaten to heavily disrupt integrated North American steel supply chains ahead of the fast-approaching deadline.

1 hour ago

[ Bharat Coking Coal Output Grows 2.8% in August ]

Bharat Coking Coal Limited (BCCL) announced that its coking coal production increased by 2.8% year-on-year to 2.18 million tonnes in August 2026. Despite a sharp 65.9% drop in non-coking coal output, the core metallurgical segment drove total raw coal production to 2.21 million tonnes for the month. Opencast mining operations were the primary contributors to this volume, generating 2.19 million tonnes of the total yield.

1 hour ago