Today, HRC prices initially rose before falling, ending the day with a 0.81% increase. The most-traded contract closed at 3,483. Mainstream spot market prices increased by 10-40 yuan/mt, with moderate trading sentiment throughout the day and average HRC trading volume. On the news front, the Political Bureau of the CPC Central Committee held a meeting today, deciding to convene the Fourth Plenary Session of the 20th CPC Central Committee and analyzing and studying the current economic situation and economic work. However, the meeting mostly addressed previous topics, with no unexpected policy announcements, leading to a correction in futures market sentiment and prices fluctuating downward. From a fundamental perspective, overall HRC production remained in the mid-to-high range in the short term, but some steel mills in North China have announced new annual maintenance plans, indicating a potential decline in production. Regional inventory data released during the day showed that except for Shanghai, where inventory increased, inventories in Ningbo, Lecong, Shenyang, and other places all decreased. The main reason was that the recent futures market rally boosted trading sentiment, and cities with relatively advantageous prices experienced greater destocking. On the cost side, there was news of another coke price increase, but ore prices lacked upward momentum, remaining in the doldrums.