[SMM Sheets & Plates Daily Review] Rebar Futures Fluctuated Rangebound, Spot Cargo Trading Slowed Down

Published: Feb 3, 2026 18:15

Save

HRC futures rose first and then fell today, with the most-traded contract closing at 3,265, down 0.34% intraday; spot market prices remained relatively stable. Supply side, this week's HRC maintenance impact stood at 274,500 mt, up 12,000 mt WoW, while next week's HRC maintenance impact is expected to be 24.59 mt, down 28,600 mt WoW; HRC production remained stable WoW ahead of the holiday. Demand side, manufacturing end-users gradually entered the holiday period this week, with purchasing enthusiasm slowing down and end-users purchasing as needed. Raw material side, hot metal output is expected to rebound MoM, but pre-holiday restocking by steel mills has temporarily concluded, leaving cost support neutral. Looking ahead, sheets & plates lack clear short-term drivers and are expected to continue fluctuating rangebound following capital market sentiment.

HRC futures rose first then fell today, with the most-traded contract closing at 3,265, down 0.34% intraday; spot market prices remained relatively stable. Supply side, this week's HRC maintenance impact reached 274,500 mt, up 12,000 mt WoW; next week's HRC maintenance impact is projected at 24.59 mt, down 28,600 mt WoW, while HRC production remained stable WoW ahead of the holiday. Demand side, manufacturing end-users gradually entered holiday mode this week, purchasing enthusiasm slowed down, with end-users purchasing as needed. Raw material side, hot metal output is expected to rebound MoM, but pre-holiday restocking by steel mills has temporarily concluded, leaving cost support neutral. Looking ahead, sheets & plates still lack clear short-term drivers and are expected to continue fluctuating rangebound following broader market sentiment.

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

5 hours ago

HRC Futures Heat Up, but Actual Transactions Struggle to Show Significant Improvement

HRC prices fluctuated upward today, with the most-traded contract settling at 3,236 yuan/mt at the close, up 1.19% intraday. In the spot market, HRC offers in major cities nationwide rose by 10-30 yuan/mt, though trading activity remained moderate, while cold-rolled and galvanized prices held steady. Intraday market rumors circulated frequently: some steel mills received notices requiring voluntary emission reductions during the Two Sessions period from March 4 to 11 (blast furnace output cut by 30%), with mills asked to submit their own plans; simultaneously, rumors emerged about relaxation of Shanghai property policies. Driven by multiple news factors, futures saw significant gains, and market trading sentiment improved accordingly.

5 hours ago

[SMM Chromium Daily Review] Steel Tender Settles Flat, Market Gradually Resumes Operations

[SMM Chrome Daily: Steel Mill Tenders Settled Flat, Market Gradually Resumes Work] February 25, 2026: The ex-factory price of high-carbon ferrochrome in Inner Mongolia today was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

5 hours ago

MMi Daily Iron Ore Report (February 25)

Today, the DCE iron ore futures rebounded slightly today, with the most-traded contract I2605 closing at 752.5 yuan/mt, up 1.42% from the previous trading day. Spot prices rose by 5–10 yuan/mt compared to the previous trading day. Traders showed moderate shipment enthusiasm, while steel mills had moderate inquiries but generally weak purchase willingness.

5 hours ago