Spot HRC Trading in some Regions is Modest

SHANGHAI, Mar 14 (SMM) - HRC futures prices hovered at highs and closed at 4,459 yuan/mt. Spot transactions in many places were acceptable. Recently, the market sentiment has been intertwined between long and short, and the contradiction between the overseas economic downturn and the moderate recovery of the domestic economy is expanding day by day.

On the supply side, affected by the maintenance of steel mills, the supply pressure will not be high in the middle and late March. The prices will hover at lows. On the demand side, according to SMM research, some downstream sectors are about to enter the peak season, and the mid-term demand is expected to grow sharply.