SMM Reports 7.2% Daily Rise in Hot-Rolled Coil Transaction Volume Amid Futures Rebound and Market Confidence Boost

[SMM Daily Transaction Volume of Hot-rolled Coils] On August 20th, the total daily transaction volume of hot-rolled coils among SMM's sample enterprises in four cities (Shanghai, Lecong, Tianjin, and Ningbo) reached 14,920 tonnes, with a daily increase of 1,000 tonnes or 7.2% compared to the previous day.

Futures prices rebounded, boosting market confidence, and some speculative demand emerged. Coupled with downstream purchases based on demand, the transaction volume of hot-rolled coils was moderate.