Today's hot rolled futures opened lower and closed at 3740, down 1.53%

Published: Oct 9, 2023 18:38

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Today's hot rolled futures opened lower and closed at 3740, down 1.53%. In the spot market, the mainstream area hot rolled quotation in the country decreased by 10-40 yuan/ton. On the first trading day after the holiday, the overall transaction of spot goods did not show obvious improvement. The transaction in South China and East China continued to be weak, and the transaction in the north was slightly improved. According to the latest survey of SMM, the high cost has caused most steel mills to have negative profits in September, and many steel mills have planned to repair, but most of them are concentrated in the middle and late September, and the supply pressure may be weakened. In terms of cost, the blast furnace start-up rate of steel mills continued to be high, which supported the demand for coking coal. Coking coal will remain stable in the short term. The accumulation of holiday inventory and the cold atmosphere of bulk commodities put pressure on the coil price, and the short-term hot coil supply and demand pattern is difficult to fundamentally reverse, and the coil price or weak shock operation trend remains unchanged.

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