Publicado: Aug 14, 2023 07:40
Summary of SMM Steel Morning Meeting: The contradiction between supply and demand fundamentals has accumulated, and the market sentiment is divided. In terms of spot market, the mainstream city hot-rolled coil quotation in the country decreased last week. The supply side of hot-rolled coil increased year-on-year last week, but benefited from the low price shock, the mood of being suppressed by high-priced resources in the early stage warmed up, stimulating the terminal to purchase, and the accumulation of social warehouses was obviously slowed down. Looking ahead, the flat control has not been fully implemented yet, and steel mills have no strong willingness to reduce production. According to SMM survey, the hot coil production in August increased significantly year-on-year, and the pressure on the supply side may be significantly increased. On the demand side, terminal demand is ultimately only released under low price stimulation.

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Summary of SMM Steel Morning Meeting: The contradiction between supply - Shanghai Metals Market (SMM)