[SMM HRC Daily Review] Market rumors drove prices up sharply, with hot trading activity during the day

Published: Jul 29, 2025 17:39

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Today, HRC prices initially stabilized weakly before rallying strongly, with a full-day increase of 2.01%. The most-traded contract ultimately closed at 3503. Mainstream spot market prices rose by 20-80 yuan/mt, with a good trading atmosphere throughout the day and a significant improvement in overall transactions compared to yesterday. On the news front, today's market rumors suggest that in order to ensure the smooth progress of the September 3rd military parade, some areas in and around Beijing will suspend work. Once the news came out, the futures market reversed its downtrend, with market sentiment strengthening significantly and speculative demand increasing again. In terms of supply, this week's impact from maintenance on hot-rolled production was 30,900 mt, a decrease of 81,800 mt WoW. Next week's impact from maintenance on hot-rolled production is expected to be 98,700 mt, an increase of 6.78 WoW. In the short term, overall production is expected to fluctuate at a medium-to-high level. In terms of demand, according to the SMM survey, most manufacturing industries have fallen into an off-season bottleneck this month, with weak new orders and a decline in the overall operating rate. The recent rise in steel prices has also dampened the willingness of some end-users to purchase, with many adopting a wait-and-see attitude and purchasing as needed. Therefore, there is still a risk of a slight inventory buildup in HRC this week.

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