Why are Steel HRC (SHFE) Prices so high?
05-02-2026 - Over the past month, the price of Steel HRC on the Shanghai Futures Exchange (SHFE) has experienced a slight increase, moving from 3,231.0 CNY/t to 3,250.0 CNY/t. This modest rise suggests potential changes in supply or demand dynamics within the raw material market. The forecast for Steel HRC (SHFE) anticipates a further increase to 3,303.0 CNY/t, representing a 1.6% rise from the current price of 3,250.0 CNY/t. This indicates a generally stable trend with a slight upward movement, though market volatility could impact raw material prices.
The current forecast highlights upward price pressure on raw materials, influenced by technical data with a 44.0 CNY/t impact, particularly from futures curves. However, flow data presents a contrasting view, suggesting a downward trend with a -35.0 CNY/t impact, resulting in mixed market signals.
According to a report by BigMint, China's hot-rolled coil (HRC) market is projected to experience a slight increase in average prices by 2026. This anticipated rise is linked to the commissioning of new downstream production facilities, which are expected to consume approximately 10 million tonnes of HRC, thereby absorbing more supply. This outlook aligns with the forecasted upward trend in SHFE Steel HRC prices.
The current forecast highlights upward price pressure on raw materials, influenced by technical data with a 44.0 CNY/t impact, particularly from futures curves. However, flow data presents a contrasting view, suggesting a downward trend with a -35.0 CNY/t impact, resulting in mixed market signals.
According to a report by BigMint, China's hot-rolled coil (HRC) market is projected to experience a slight increase in average prices by 2026. This anticipated rise is linked to the commissioning of new downstream production facilities, which are expected to consume approximately 10 million tonnes of HRC, thereby absorbing more supply. This outlook aligns with the forecasted upward trend in SHFE Steel HRC prices.
What is the current / spot price of Steel HRC (SHFE)?
Steel HRC (SHFE) Price Today
February 6, 2026
Current Price
3250
What is the forecast for the price of Steel HRC (SHFE)?
Steel HRC (SHFE) Price Forecast
February 9, 2026
1 Month Forecast
3303
1 Year Forecast
3744
What are the short-term drivers of Steel HRC (SHFE) prices?
Over the 1 Month horizon the outlook is bullish due to drivers such as: - The shape of the futures curve (adjusted for the risk free rate and price volatility) - Short term price trends Br(None) The top contrary drivers for the 1 Month horizon are: - Long term price trends - Iron Ore exports from Canada
What are the long-term drivers of Steel HRC (SHFE) prices?
Over the 1 Year horizon the outlook is bullish due to drivers such as: - The shape of the futures curve - Short term price trends - Steel imports to China Br(None) The top contrary drivers for the 1 Year horizon are: - Long term price trends - Steel exports from Germany
Will the price of Steel HRC (SHFE) go up?
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