HRC futures prices fluctuated higher today, gaining 0.24% throughout the day, with the most-traded contract settling at 3,313 yuan/mt. Spot HRC prices rose 10-20 yuan/mt, and market transactions showed slight improvement. Cold-rolled coil prices in Shanghai remained stable, while those in Lecong increased by 30 yuan/mt, with trading activity moderate during the day.On the news front, 36 listed steel companies released their H1 2025 financial results. In terms of net profit, 26 firms reported profits, with Baosteel ranking first (4.879 billion yuan), CITIC Special Steel second (2.798 billion yuan), and Valin third (1.748 billion yuan).Supply side, HRC production declined WoW due to maintenance at some steel mills in north China. Inventory side, SMM's survey of 86 national warehouses (large sample) showed social HRC inventory at 3.6701 million mt, up 104,200 mt (2.92% WoW) but down 25.75% YoY. National social inventory continued to accumulate, though the buildup pace slowed. By region, destocking occurred in south and north-east China, while east, north, and central China saw further accumulation, with north China posting the largest increase. Producer's warehouse inventory fluctuated rangebound, with total inventory at 4.7481 million mt and a moderated buildup pace.