SMM: Daily Hot Rolled Coils Trading Volume Soars 38.7% on Fed's 50 bps Rate Cut Boost

【SMM Daily Transaction of Hot Rolled Coils】On September 19th, the total daily trading volume of hot rolled coils from sample enterprises in the four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM reached 15,270 tonnes, with a daily increase of 4,260 tonnes, or 38.7%.

The futures market showed a trend of weakness first and then strength. The Federal Reserve's interest rate cut of 50 basis points exceeded expectations, leading to a warmer trading atmosphere in the market, and the transaction of hot rolled coils was decent.