HRC Prices may Remain Volatile amid Verification Period of Demand

SHANGHAI, Mar 2 (SMM) - HRC futures prices fluctuated upwards yesterday amid the favourable macro news and gained 1.10%. The transactions in the spot market have improved significantly in light of the significant increase in the demand from terminals and traders. But the transaction prices remained low. In yesterday afternoon, traders raised their prices, which weighed on the market transactions.

Manufacturing PMI in February Reported at 52.6, up 2.5% According to SMM research, the stock of HRC in mainstream cities has declined to varying degrees and the transactions have picked up significantly under the favourable macro front and falling inventory. At the same time, the Two Sessions are approaching, and the favourable policy is expected to be released. However, considering that the current terminal demand has yet to be verified, it is expected that the short-term HRC prices will continue to fluctuate in a wide range.