[SMM Sheets & Plates Daily Review] Sheets & Plates Expected to Stay Sideways in the Short Term

Published: Jun 10, 2026 17:23

Save

Today, HRC’s the most-traded contract fluctuated downward, closing at 3,380 yuan/mt, up 0.6% from the previous trading day. Spot sheets & plates prices rose 10-20 yuan/mt from the previous trading day. In terms of supply, this week, the impact from maintenance on hot rolling totaled 74,100 mt, down 156,400 mt WoW. Next week’s impact from maintenance on hot rolling is expected at 23,100 mt, down 51,000 mt WoW. Supply pressure sustained its uptrend this month. Demand side, futures rebounded near the close, improving market trading from the previous trading day. Trading was mostly at low prices, with some buyers taking advantage of the spot-futures price spread to purchase on dips. Cost side, near the close today, market rumors suggested that a major mine signaled a halt on certifying blended super special fines, driving iron ore futures to surge. However, subsequent rumors refuted this, causing futures to fluctuate sharply. For coking coal and coke, the spot market saw tight supply-demand dynamics, and they are expected to recover some losses in the short term. Overall, according to the regional HRC inventory data released today, except for South China, most regions maintained destocking. The supply-demand imbalance remains not significant, and they are expected to continue their sideways trend in the short term, with attention on disruptions in the raw material supply.

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 for 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

[Domestic Iron Ore Brief] Next week, domestic ore price gains are expected to trail imported ore prices, and the price spread between domestic and imported ore is likely to continue narrowing.

The dry-basis, tax-inclusive EXW price of iron ore concentrates in East Liaoning edged down to 860 yuan/mt. According to feedback from mines and beneficiation plants, the local price spread between domestic and imported ore is around 60 yuan/mt, while local steel mills generally have a relatively strong desire to bargain down prices and expect to narrow the spread to around 20 yuan/mt. Local mines and beneficiation plants are mostly selling as usual at steel mills' purchase prices. However, iron ore futures recently drifted higher, and the price spread between domestic and imported ore may continue to narrow. Local iron ore concentrate prices are expected to have limited downside room.

5 hours ago

8.14 SMM Global Steel Daily Report

[Flat Products]Today some HRC and other flat-product export prices rose 1-2 USD/tonne day on day, with HRC transaction prices at 484-487 USD/tonne. Market participants report that the enquiry atmosphere for hot-rolled coil is rather quiet, while cold-rolled and coated grades are performing somewhat better, with low prices releasing some business. [Billet]Today billet export FOB prices ran steady to firm, rising 1 USD/tonne, with Jiangyin port offers at 449-454 USD/tonne. According to market feedback, the basis is currently at a reasonable level, many domestic traders were covering short positions, and export business improved. [Rebar]Today rebar export offers at Tianjin port were steady, with overall transaction prices at 472-477 USD/tonne. According to exporters, overseas enquiries were fair in the morning session, but futures fell back in the afternoon and market sentiment returned to cautious watching, with no clear pick-up in volume

5 hours ago

6 hours ago

MMi Daily Iron Ore Report (August 14)

Iron ore futures traded firmer today. The DCE most-active contract I2701 settled at RMB 710.5/mt, up 0.42% from the previous session. Spot prices at Qingdao Port rose RMB 5-9/mt from the previous trading day. Traders were active in offering, while mills showed limited enquiry, leaving overall spot transaction volumes moderate as of press time.

6 hours ago