[SMM HRC Daily Review] HRC futures and spot prices weakened during the day, with a weak market trading atmosphere

Published: Aug 7, 2025 17:07

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Today, HRC prices weakened MoM, with the most-traded contract closing at 3440, down 0.35%. In the spot market, most market quotes dropped slightly today, with overall transaction performance showing divergence. On the news front, steel import and export data were released. According to data from the General Administration of Customs on August 7, China exported 9.836 million mt of steel in July 2025, an increase of 158,000 mt MoM, up 1.6% MoM. From January to July, cumulative steel exports reached 67.983 million mt, up 11.4% YoY, demonstrating strong resilience in steel exports. Today, SMM released weekly balance data for HRC. Affected by maintenance at some steel mills, HRC production decreased slightly this week. In terms of social inventory, SMM's statistics showed that the nationwide social inventory of HRC in 86 warehouses (large sample) was 3.2573 million mt this week, an increase of 65,300 mt MoM, up 2.05% MoM, and down 31.71% compared to the same period in the new calendar year. This week, the nationwide social inventory continued to accumulate, with a narrow increase in inventory amid the off-season.

Looking ahead, affected by news such as production restrictions due to the military parade and raw material-side factors, there is strong support below HRC prices in the short term. It is expected that HRC prices will continue to move sideways within the range of 3380-3550.

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