Lechong Hot Rolled Coil Prices Plummet Below 3000 Yuan/Ton: Market Outlook Amid Continuing Decline?

[SMM Hotspot: Lechong Hot Rolled Coil Drops Below 3000, Will the Market Continue to Decline?]

Amid the backdrop of poor macroeconomic data both domestically and internationally, the black futures market, after a two-week rally, has resumed its downward trend and broken through previous lows once again. Similarly, the spot prices are not optimistic. In the case of the Lechong market, the spot price of Lechong hot rolled coils broke through the 3000 yuan/ton threshold on the 6th, reaching a five-year low, with a year-to-date decline of 29.22%! So, what is the supply and demand structure of Lechong hot rolled coils? And what about the subsequent price trend? ...