[SMM Sheets & Plates Daily Review] Costs Still Provided Support, Prices Expected to Follow a Fluctuating Trend

Published: Jun 1, 2026 17:19

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HRC futures closed at 3,400 today, up 0.65% for the day. On the spot side, spot HRC rose 10-20 yuan/mt, cold-rolled was stable to up 10 yuan/mt, and overall transactions today were mainly at lower prices. On the news front, the fifth round of coke price increases is expected to be implemented on June 3, with expectations for a sixth round to follow. Meanwhile, market rumors circulated about production resumptions at coking coal mines, which are expected to have some impact on production. Coking coal and coke futures strengthened, providing stronger cost support for HRC, and both futures and spot prices followed suit. In terms of supply, according to SMM statistics, the impact from maintenance on HRC this week is expected to decrease WoW, and weekly supply is expected to rebound slightly. On the cost side, according to SMM statistics, hot metal production is still expected to increase, and coking coal and coke are expected to hold up well going forward, providing moderate cost support for cold-rolled and hot-rolled products. Looking ahead, off-season sentiment is fermenting, and end-use demand for sheets & plates remains weak, but costs still offer some support, and the market has a strong willingness to hold prices firm. Prices are expected to maintain a fluctuating trend in the short term.

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