[SMM HRC Daily Review] Small Essay Boosts Sentiment, Futures Coil Strongly Rebounds
HRC futures surged strongly today, closing at 3,432 with a 1.17% increase. Supply side, this week's impact from HRC maintenance reached 129,500 mt, up 94,500 mt WoW. Next week's impact from HRC maintenance is expected to be 167,100 mt, up 3.76 WoW, slightly easing supply pressure. Demand side, end-use demand in the manufacturing sector remains in a continuous recovery, with intraday transactions significantly boosted by the futures market's rally. Looking ahead, there were market rumors today about a potential reduction in crude steel production, which clearly drove the futures market upward. Although the news is not yet confirmed, it has warmed market sentiment. Additionally, the anti-dumping sentiment regarding Vietnam has somewhat subsided, and with the domestic macro Two Sessions approaching, policy expectations have not been disappointed. The most-traded contract is expected to continue a slight upward fluctuation in the short term.
HRC futures surged strongly today, closing at 3,432, up 1.17%.
Supply side, this week's impact from HRC maintenance reached 129,500 mt, up 94,500 mt WoW. Next week's impact from HRC maintenance is expected to reach 167,100 mt, up 3.76 WoW, slightly easing supply pressure.
Demand side, end-use demand in the manufacturing sector remains in a continuous recovery, with intraday transactions significantly boosted by the futures market's rally.
Looking ahead, today's market rumors about a potential reduction in crude steel production have clearly driven the futures market upward. Although the news remains unconfirmed, it has warmed market sentiment. Additionally, the anti-dumping sentiment regarding Vietnam has somewhat subsided, and with the domestic macro Two Sessions approaching, policy expectations have not yet been disappointed. The most-traded contract is expected to continue a slight upward fluctuation in the short term.
