[SMM Sheets & Plates Daily Review] Short-Term Sheets & Plates May Consolidate on a Strong Note

Published: Aug 12, 2026 17:35

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The most-traded hot-rolled coil futures contract rose initially then fell back today, closing at 3,239, up 0.19% day-on-day. Supply side, the impact from hot rolling maintenance this week was 216,000 mt, down 39,900 mt WoW. Next week, the impact from hot rolling maintenance is expected to be 116,100 mt, down 99,800 mt WoW, but production remained relatively low. Demand side, the off-season saw end-users mainly trading at low prices, with market activity weaker than the previous trading day. Raw material side, hot metal essentially hit bottom and is expected to rebound slightly afterward. Combined with the approaching delivery of near-month coking coal and coke contracts, the tight spot supply will lead to stronger futures performance, and the cost support from coking coal and coke remains intact. Affected by the typhoon, inventories in some markets were destocking this week, but the sustainability is expected to be limited. Looking ahead, as sheets & plates themselves remain in the off-season, this will limit the rebound height. However, considering that cost support from below is solidified in the short term, sheets & plates are expected to consolidate on a strong note.

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