China Spot Market Dynamics:
The price of cold-rolled coils fluctuated and was weak, with the average price being $ 642.00/ton, down $0.55/ton from the previous trading day. In terms of the market, today's hot coil futures are fluctuating weakly. At the same time, cold-rolled resources are tight, manufacturers' inventory pressure is not large, traders are more willing to raise prices, and the quotations are flat. However, the actual transaction is still $1.36-2.73 Negotiation space. Regarding mentality, the current demand has not improved significantly, traders' shipments are less than expected, and they have insufficient confidence in the recent market. Overall, the cold-rolled price is expected to be mainly adjusted within a narrow range tomorrow.
Mainstream Market Quotation:
Shanghai 654.96, Guangzhou 635.86, Tianjin 620.85. Except for Qingdao, Fuzhou, Guangzhou, Wuhan, Zhengzhou, Tianjin, Chengdu, and other cities, which dropped by 1.36-2.73, prices in the rest cities remained stable. (Unit: USD/ton)