HRC Prices May Fall Further Due To Bearish Macro Sentiment And Poor Demand

SHANGHAI, May 25 (SMM) - HRC futures prices fluctuated downwards, closing down 3.11% at 3,551 yuan/mt yesterday. Spot offers in mainstream cities across the country dropped sharply today, and the overall transaction was poor. The daily average output of pig iron in the sample steel mills was 2.24 million mt, which was down 10,000 mt from last week. HRC prices may fall further due to bearish macro sentiment and poor demand.