Price trend

The market quotation of hot rolled coils has gradually dropped. The quotation range on the 29th was concentrated at 5,200-5,240 RMB/ton. According to the data monitoring of SunSirs, the average market price of hot rolled coils in the country was 5,208 RMB/ton, down 0.23% from the previous trading day.

Analysis review

The cost side was stable, the iron ore and coke market resources were not circulating smoothly, and individual steel companies had shut down their blast furnaces due to shortage of raw materials. The production of steel enterprises was limited, and the willingness to support prices was strong. The downstream market performed poorly on the 29th, and the market entry operations were limited. Traders were more cautious about the market outlook.

Market outlook

On the whole, the production of steel mills may be subject to certain restrictions, and the general pattern of weak supply and demand has not changed. It is expected that the hot rolled coils market will run strongly and fluctuate in the short term.

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