Data: SHFE, DCE market movement (May 21)

Today, the most-traded HRC contract rose first then fell, closing at 3,394 at the end of the session, down 0.59% intraday. HRC spot prices mostly declined 10-20 yuan/mt today, with some markets remaining stable. In terms of supply, weekly hot-rolled production was 3.1739 million mt, up 19,700 mt WoW, with supply pressure relatively neutral. Demand side, morning transactions were moderate, while afternoon futures decline weakened market transactions. Cost side, after macro front disturbances eased, short-term cost support was limited. Looking ahead, overall HRC inventory will continue to decline, with total inventory down 161,300 mt WoW this week. The supply-demand imbalance showed divergence, with inventory in east China and northern regions continuing to decline while ...

Today iron ore futures weakened, with the most-traded contract I2609 closing at 789.5 yuan/mt, down 1.07% from the previous trading session. Port spot prices fell 4-8 yuan from the previous day. Traders showed moderate enthusiasm in offering; steel mill purchases were mostly driven by rigid demand; overall spot market transactions were limited.