[SMM HRC Daily Review] Today, the hc2510 contract closed at 3097, up 1.61%. In the spot market, the strengthening of futures prices drove up spot prices, improving market sentiment and significantly boosting market transactions on a WoW basis. On the news front, market rumors about raw material coking coal and coke led to a sharp rally in the most-traded contracts of coking coal and coke, with other ferrous metals series varieties following suit. Shanghai and Lecong's HRC inventory data for the week were released today. This week, Shanghai's HRC inventory stood at 286,000 mt, up 7,200 mt WoW, a 2.58% increase; down 26.63% YoY on the solar calendar and 34.52% YoY on the lunar calendar. Lecong's HRC inventory for the week was 65.77 mt, up 13,100 mt WoW, a 2.03% increase; down 304,700 mt YoY on the solar calendar, a 31.66% YoY decline. In the short term, the fundamental contradictions within the HRC market are not immediately apparent, and there is little risk of prices being dragged down. SMM will release its weekly HRC balance data tomorrow, and it is expected that the most-traded HRC contract price will continue to exhibit sideways movement within the 3010-3140 range this week.