[SMM Sheets & Plates Daily Review] Spot cargo transactions are sluggish, and sheets & plates supply-demand is under pressure and moving sideways.

Published: Jun 23, 2026 17:19

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The most-traded HRC futures contract closed at 3,327 today, down 0.27% for the day. In the spot market, HRC prices fell by 10-20 yuan/mt, cold-rolled coil prices remained stable, and overall trading was moderate. Supply side, according to SMM statistics, the impact from hot rolling maintenance this week was 78,100 mt, flat WoW; next week's impact from hot rolling maintenance is expected to be 23,100 mt, down 55,000 mt WoW from this week. HRC supply remained unchanged this week, and subsequent supply is expected to increase. Demand side, sheet & plate demand today was mainly characterized by just-in-time procurement, without significant demand release. Going forward, demand continued to weaken, fundamental pressures gradually emerged, and sheet & plate prices were suppressed. However, the market still has expectations for the ninth round of coke price increases. In the short term, sheet & plate prices are expected to be in the doldrums supported by costs.

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