Publicado: May 9, 2024 07:30
[SMM Steel Morning Meeting Summary: The internal contradiction of hot-rolled coils is still accumulating, not forming a significant downward driver] In terms of supply, the impact of hot-rolled maintenance this week decreased by 23,800 tons compared to last week, and next week's impact will decrease by 9,500 tons compared to this week, indicating a slight upward trend in supply, but there is no significant short-term pressure. In terms of demand, according to industry online data, the total production of air conditioners, refrigerators, and washing machines in May reached 37.75 million units, an increase of 15.2% compared to the same period last year. The downstream demand remains resilient. Looking at SMM's outbound port data, the steel outbound data in April was nearly 10 million tons, indicating that export enthusiasm remains high. Except for Zhangjiagang, all cities that have released inventories so far have accumulated to varying degrees, mainly due to the impact of holidays, especially in the South China and North China regions...

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