Hot-Rolled Coil Market Slumps Amid Maintenance Boost, Weak Demand, and Macro Jitters

Publicado: Aug 13, 2024 17:31

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[SMM Daily Commentary on Hot-rolled Coil: Increased Maintenance This Week? Prices Continue to Fall with Little Sign of Improvement] Today, the hot-rolled coil futures market saw a significant decline, closing at 3335 in the afternoon, with a drop of 1.62%. Spot prices in the mainstream hot-rolled coil market all fell, with declines ranging from 30 to 60 yuan/ton. The futures market continued to plummet, further chilling trading sentiment, resulting in poor intraday trading volumes for hot-rolled coil. According to SMM research, the impact of hot-rolled maintenance this week reached 27.05, an increase from the previous week, which has somewhat alleviated supply pressure. Currently, demand for hot-rolled coil is weakening, production continues to decline slightly, and inventory accumulation slows. Steel mills are experiencing widespread losses, leading to intensified production cuts, a sustained decline in molten iron, and a continuation of negative feedback dynamics in the spot market. The current macroeconomic climate is pessimistic, market sentiment is low, and the rebound in futures prices is weak, overall still showing signs of weakness with intensified fluctuations. In summary, hot-rolled coil prices will continue to fluctuate weakly with insufficient upward momentum.

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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