HRC Prices Likely to Boosted by Demand Recovery

SHANGHAI, Feb 16 (SMM) - HRC futures remained high yesterday and closed with gains of 1.48%. In terms of the spot market, the transactions weakened amid the wait-and-see sentiment. The transactions were mostly at low prices.

The demand recovered steadily, and the pace of recovery in east China and south China is significantly faster than that in the north China. In the follow-up stage, the steady recovery of demand will further boost market confidence. But at this stage, demand in the north China has not yet fully recovered, and terminals are more cautious in procurement.