HRC Futures Prices Fall

SHANGHAI, Mar 22 (SMM) - Yesterday, the HRC futures prices fell 1.63% to close at 4,273 yuan/mt after rising. In the spot market, transactions in mainstream cities were weak yesterday, and market quotations generally fell.

On the demand side, the terminals were more wait-and-see, and thus the demand weakened. On the supply side, according to the statistics, the impact of maintenance weakened and the supply pressure increased. From the perspective of raw materials, the control of iron ore prices intensified. Amid the increasing Australia coal shipments, the cost support gradually weakened. On the whole, although the overseas macro risks have eased, short-term volume prices will still fluctuate weakly. It is necessary to pay attention to the recovery speed of subsequent demand and the development trend of overseas risks.