SMM Special Report: 2023 Hot Rolled Coil Annual Review and Outlook

In 2023, the price of hot rolled coils showed a "W" shaped trend, with the national spot price fluctuating between 3700-4500 yuan/ton, a decrease of about 9.5% compared to the annual average price in 2022. Looking ahead to 2023, after experiencing a high and low in the first quarter, a sharp decline in the second quarter, seasonal disturbance and range volatility in the third quarter, hot rolled coil prices ultimately saw a strong upward trend in the fourth quarter, driven by strong macroeconomic and industrial fundamentals...