Sinopec News: Hot rolled coil has a third-grade quality, and attention is on whether April can continue this trend.

Since March, the hot-rolled coil market has shown a pattern of choppy upward movement. The underlying reason is that cost support is “solid.” On the one hand, the conflict in the Middle East has pushed up oil prices, and domestic refined fuel prices have followed higher. On the other hand, iron ore prices for raw materials have fluctuated upward, and hot-rolled coil production costs have risen accordingly. Looking at market conditions in April, market demand is recovering slowly, while supply is increasing gradually, and the supply-demand contradiction is intensifying. After price levels may have experienced sentiment-driven gains, they will likely return to being driven by supply and demand and gradually turn downward. (Zhuochuang Information)