[SMM Hot Topic: More Than 100 Yuan Drop in a Week, Have Hot Rolled Coil Prices Bottomed Out?]

This week, the average spot price of hot rolled coils nationwide fell by 136.6 yuan/ton, while the closing price of the main futures contract for hot rolled coils dropped by 147 yuan/ton. The spot price has plunged to its lowest in three years, and futures have also fallen to a new low in nearly two years. This round of sharp price declines is primarily based on the following two reasons: Firstly, before the Third Plenary Session, the market still held certain positive expectations for the meeting, but until the end of the meeting, no policy guidance that met expectations was released; secondly, the transition between the old and new national standards for rebar, although there is a three-month transition period...