[SMM Sheets & Plates Daily Review] Futures Prices Maintain Fluctuating Trend, Attention on Raw Material Price Changes

Published: Apr 8, 2026 17:29

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HRC futures first dipped then rallied today. The most-traded contract closed at 3,282, up 0.06% WoW. Spot market side, market quotations showed mixed performance, with overall trading activity being relatively lackluster, though transactions at lower prices were moderate. In terms of supply, the impact from maintenance on hot-rolled production was 106,400 mt this week, down 88,800 mt WoW. Next week, the impact from maintenance on hot-rolled production is expected to be 11.7 mt, up 10,600 mt WoW, with overall supply still on an increasing trend. Demand side, end-user purchasing enthusiasm was unlikely to exceed expectations, with most purchases being need-based at lower prices. Inventory side, mainstream city inventory data was released today. Performance varied across markets, but overall destocking outpaced inventory buildup, and the overall destocking trend is likely to continue. Looking ahead, the US-Iran conflict reportedly entered the final stage of detail finalisation today. Attention should be paid to the impact of subsequent international disruptions on the raw material side. Meanwhile, the conclusion of the US-Iran conflict may boost market confidence in exports. In the short term, the most-traded HRC futures contract is expected to maintain a fluctuating trend of moving sideways.

HRC futures first declined then rebounded today, with the most-traded contract closing at 3,282, up 0.06% WoW. Spot market side, market quotations showed mixed performance, overall market transactions were relatively lackluster, though low-price transactions were moderate. In terms of supply, the impact from maintenance on hot-rolled production was 106,400 mt this week, down 88,800 mt WoW, and next week's hot-rolled maintenance impact is expected to be 11.7 mt, up 10,600 mt WoW, with overall supply still on an increasing trend. Demand side, end-user purchase enthusiasm was unlikely to exceed expectations, with most purchases made on demand at low prices. Inventory side, mainstream city inventory data was released today, with varied performance across markets, but overall destocking exceeded inventory buildup, and the overall destocking trend is likely to continue. Looking ahead, the US-Iran conflict reportedly entered the final stage of detail finalisation today. Attention should be paid to the impact of subsequent international disruptions on the raw material side. Meanwhile, the resolution of the US-Iran conflict may boost market confidence in the export side. In the short term, the most-traded HRC futures contract is expected to maintain a fluctuating trend of moving sideways.

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