[SMM HRC Daily Brief]

Published: Aug 29, 2025 17:29

Save

This week, HRC prices moved sideways, with overall moderate market activity and weak weekly trading volume. Prices fluctuated within a range of 10-20 yuan/mt. On the news front, rumors circulated during the week about the implementation of a five-ministry steel industry stabilization plan and production restrictions ahead of a military parade, which briefly supported steel prices. However, as these rumors largely aligned with prior expectations, the market remained weak overall. Fundamentally, the impact from HRC maintenance this week totaled 183,000 mt, up 30,000 mt WoW. Next week, the maintenance impact is expected to be 91,000 mt, down 92,000 mt WoW. HRC supply continues to rise in the short term, maintaining pressure. Demand side, order intake in manufacturing sectors such as automobiles and home appliances improved slightly, but the seasonal transition remains unclear. With month-end approaching, traders remained cautious, and the sustainability of the rebound requires further observation, leading to a wait-and-see stance. Inventory trends matched prior forecasts, with social inventory continuing to accumulate at a slightly accelerated pace. By region, east China, south China, and north China saw larger increases. Traders slowed purchases, while in-plant inventory fluctuated modestly. SMM's large-sample total inventory stood at 462.64, up 159,200 mt WoW. The most-traded HRC contract is expected to move sideways within the 3,300-3,450 yuan range

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

23 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

23 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

23 hours ago

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41