🔹 Market Recap

Yesterday’s trading showed signs of cooling enthusiasm around both Tangshan environmental restrictions and the anticipated Supply-Side Reform 2.0.
Leading capital flows reflected profit-taking behavior, as trading volumes declined notably and market participation waned.
Investor sentiment turned cautious, with a growing wait-and-see attitude dominating the market.

While the policy narrative remains supportive, actual implementation of supply-side reforms will require time to verify, contributing to the current high-level consolidation pattern.

🔸 Overnight Developments

Early this morning, new tariff-related announcements from South Korea, Japan, South Africa, Myanmar, and Cambodia added mild downside pressure to the ferrous complex.
These external trade headwinds are expected to trigger 10–30 point volatility at market open.

🔹 Near-Term Outlook

We expect prices to remain within high-level trading ranges in the short term, with no decisive breakout for now.

📊 Key Trading Ranges (Short-Term Projections):

  • Rebar: 3040 – 3090
  • Hot-Rolled Coil (HRC): 3160 – 3210
  • Iron Ore: 715 – 735

The overall structure remains sideways and range-bound, awaiting stronger directional signals either from policy confirmation or material demand shifts.

📌 Daily insights provided by LangZo Steel. For reprints, please credit LangZo Steel.