【SMM Steel Morning News Summary: Expectations for the eighth round of

Published: Apr 8, 2024 10:00

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【SMM Steel Morning News Summary: Expectations for the eighth round of coke price cuts are heating up】Hot-rolled coil spot prices fell slightly on a month-on-month basis today, with overall moderate trading performance in the spot market. As we enter April, with the switch between the off-peak and peak seasons for terminal orders, the incremental space for hot-rolled coil demand is limited. According to the latest research from SMM, driven by orders and profits, most steel mills have a high enthusiasm for producing hot-rolled coils. In the short term, hot-rolled coil production may remain at a high level, and the destocking in some mainstream markets has slowed down, with a slow accumulation of contradictory fundamentals; in terms of costs, expectations for the eighth round of coke price cuts are heating up, and there is still downward risk for cost support.

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