SMM: Daily Hot Rolled Coil Transaction Volume Declines Slightly Amid Speculative Demand Boost, Prices Soar

[SMM Daily Hot Rolled Coil Transaction Volume] On September 27th, the total daily transaction volume of hot rolled coils among the sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, and Ningbo) amounted to 16,390 tons, with a daily decline of 80 tons, or -0.5%.

The futures market surged again, strongly stimulating speculative demand, but actual end-user demand did not increase synchronously. Coupled with the sharp rise in hot rolled coil prices, most downstream buyers procured on an as-needed basis, resulting in decent hot rolled coil transactions.