Publicado: Jul 31, 2024 17:10
【SMM Hot-rolled Coil Daily Commentary: Corrective Rebound? Trading Conditions Improve Intraday】Today's hot-rolled coil futures market saw an initial rise followed by a decline, closing at 3479 in the afternoon, with a loss of 0.26%. The futures market fluctuated, and the trading atmosphere improved, with some speculative demand emerging. Overall, intraday trading in most mainstream hot-rolled coil cities was average. Steel enterprises are now facing increasing losses, and this week, SMM's statistics show a notable decline in blast furnace operating rates, with the daily average molten iron output of sample steel mills at 228.3, down 7,100 tonnes from the previous week. The current supply-demand dynamics of hot-rolled coils have weakened, with supply pressure remaining unresolved, while demand has shown a slight downward trend. The fundamental situation of increasing supply and weakening demand is poor, and hot-rolled coil prices continue to be under pressure. Once demand accelerates its decline, the contradiction between supply and demand will be intensified, highlighting the pressure on hot-rolled coil prices. On the macro news front, attention continues to be paid to the issuance of treasury bonds and the Fed's interest rate cuts to see if they can boost market confidence. If macroeconomic expectations remain insufficient, hot-rolled coil prices are expected to continue fluctuating and weakening.

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 Hot-rolled Coil Daily Commentary: Corrective Rebound? Trading Con - Shanghai Metals Market (SMM)