[SMM Sheets & Plates Daily Review] Prices Fluctuated Rangebound Today, Market Trading Performance Was Average

Published: Jan 14, 2026 17:11

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Ferrous metals were in the doldrums today, with the most-traded hot-rolled coil contract closing at 3,306, down 0.09%. In the spot market, average prices for cold-rolled and hot-rolled coils remained stable WoW, while trading performance was average. Data-wise: Ningbo's large-sample hot-rolled coil inventory this week stood at 326,500 mt, up 2.9% WoW. Lecong's hot-rolled coil inventory this week was 737,200 mt, down 4.69% WoW. Shanghai's hot-rolled coil inventory this week was 361,000 mt, down 4.62% WoW. Shenyang's hot-rolled coil inventory this week was 88,000 mt, up 6.54% WoW. Inventories in major cities showed mixed changes this week.

Recently, the impact from maintenance at steel mills decreased, and hot-rolled coil production is expected to increase significantly this week, with supply pressure gradually rising. Demand side, approaching year-end, further room for downstream demand release is limited. In the short term, the most-traded hot-rolled coil contract lacks upward or downward momentum and is expected to move sideways within the 3,260-3,350 range. If there are no more positive news stimuli in the middle to late ten-day period, prices may have further room to weaken.

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.

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