[SMM Sheets & Plates Daily Review] HRC futures and spot prices rose MoM today.

Published: Nov 17, 2025 17:20

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HRC futures and spot prices broke the sideways trend of recent days and rose slightly today, with the most-traded contract closing at 3,302 yuan, up 1.57%. In the spot market, prices in many regions increased by 20-30 yuan/mt, and trading activity improved modestly.
Short-term, November-December, some steel mills announced annual maintenance plans, and coupled with the rapid rise in raw material prices recently, steel mill profits shrank significantly. HRC production is expected to see limited room for growth in the near term, fluctuating at moderate levels. Demand side, some industries still have expectations for a year-end push, and overall manufacturing demand remains resilient, with steel mills seeing good orders for specialty steel products. However, current apparent demand is at the low end of the range for the same period over the past three years, and short-term market transactions and shipments of circulating resources are under pressure. Overall, HRC fundamentals remain contradictory, and inventory may continue to draw down slowly. HRC prices are expected to hold up well this week, but given ongoing pressure on market demand and circulation, the current rebound has not yet formed a smooth uptrend. Key level to watch for the most-traded contract is 3,330-3,350.

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