SMM Steel Morning Meeting: HRC Prices Drop, Sentiment Weakens; Fundamentals Show Moderate Imbalance

Publicado: Dec 6, 2024 07:40
[SMM Steel Morning Meeting Summary: HRC Prices Declined MoM, Market Trading Sentiment Weakened] Yesterday, HRC futures prices were under pressure and weakened, with the most-traded contract closing at 3,465, down 1.53% MoM. In the spot market, prices fell in many regions, overall market transactions were moderate, and trading sentiment was weak. Yesterday, SMM released the weekly supply-demand balance data for HRC. This week, HRC production continued to rebound, and inventory continued to deplete, with overall data showing moderate performance. Looking ahead, due to annual maintenance at some steel mills in mid-to-late December, HRC production may first increase and then decrease. On the demand side, end-use demand remained resilient, short-term inventory continued to deplete, and the fundamental imbalance was relatively small. Attention should be paid to the dynamics of important macro meetings, and the short-term downside space for HRC prices is limited.

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[SMM Steel Morning Meeting Summary: HRC Prices Declined MoM, Market Tr - Shanghai Metals Market (SMM)