[SMM HRC Daily Review: US Tariff Hike Implemented, Moderate HRC Trading Sentiment During the Day]
Today, the futures market fluctuated downward but rebounded in the afternoon, with the most-traded contract closing at 3,436 yuan/mt. Trading sentiment during the day was moderate, with spot prices in most major cities mainly decreasing by 10 yuan/mt.
According to SMM's production schedule survey, on the supply side, the planned daily production of HRC commercial materials in February is 493,100 mt, an increase of 37,500 mt compared to January's actual daily average production, representing a growth of 8.2%. Steel mills actively took orders and ramped up production, maintaining high supply pressure for HRC.
On the demand side, stimulated by consumption policies such as the "national subsidy," manufacturing demand showed moderate recovery, with good order-taking performance in the automotive and home appliance sectors.
Looking ahead, on the raw material side, although coke prices are still expected to decline, iron ore prices are anticipated to strengthen due to disruptions from overseas shipment news, providing short-term cost support.
In summary, HRC prices are expected to experience sideways movement in the short term.
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