[SMM Sheets & Plates Daily Review] Near-Term Sheets & Plates May Fluctuate Weakly

Published: Jun 9, 2026 18:08

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Today, the most-traded HRC contract fluctuated downward and closed at 3,361 in late trading, down 0.59% from the previous session. A late-session rebound in coking coal futures from their limit-down lent some support to HRC futures. Spot sheets & plates fell by 10-20 yuan/mt. Supply side, this week’s impact from hot-rolling maintenance was 74,100 mt, down 156,400 mt WoW. Next week’s impact will be 23,100 mt, down 51,000 mt WoW. Supply pressure this month continued its uptrend. Demand side, futures rose in late trading, boosting transaction activity somewhat, but buying remained largely as needed. Cost side, coking coal futures plunged in both night and day sessions after the Shaanxi Provincial Development and Reform Commission proposed ensuring supply last night. However, the spot supply-demand balance for coking coal and coke stayed tight, suggesting they may not extend steep losses in the near term. In summary, HRC’s underlying contradictions have yet to fully emerge in the short term, but cost support has weakened somewhat. The market will likely continue fluctuating weakly in the near term.

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