Publicado: Jul 3, 2024 17:09
【SMM Daily Review of Hot-rolled Coil: Futures Market Strengthens, Spot Market Transaction Improves?】Today, the futures market for hot-rolled coil saw volatile gains, closing at 3809 in the afternoon, with a 1.2% increase. In the spot market, mainstream cities' prices were all up, with an increase of 10-30 yuan/ton. As futures prices fluctuated upward, the market transaction atmosphere improved, and traders actively sold their goods. On the supply side, this week's iron and steel production volume increased slightly from the previous week, and steel mills still have profits in producing hot-rolled coils, with their enthusiasm remaining unchanged. It is expected that the supply of hot-rolled coils will continue to be under pressure. On the demand side, downstream terminals still mainly purchase based on their needs, and demand is difficult to boost. At the same time, the social inventory data of some mainstream markets for hot-rolled coils were released during the day, showing a slight decrease in inventories in Shanghai and Tangshan markets, while the inventories of Lecong hot-rolled coils still increased month-on-month. Please continue to pay attention to tomorrow's weekly balance data for SMM hot-rolled coils. Overall, the fundamentals of hot-rolled coils have accumulated some contradictions, but there is still support on the cost side. It is expected that hot-rolled coil prices will maintain volatile movements in the short term.

Declaração sobre a Fonte de Dados: Com exceção das informações publicamente disponíveis, todos os demais dados são processados pela SMM com base em informações publicamente disponíveis, comunicação de mercado e com base no modelo de base de dados interna da SMM. São apenas para referência e não constituem recomendações para a tomada de decisão.

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【SMM Daily Review of Hot-rolled Coil: Futures Market Strengthens, Spot - Shanghai Metals Market (SMM)