**[SMM Daily Hot-Rolled Coil Transactions]** On November 12, the total daily hot-rolled coil transaction volume of sample enterprises across four cities in SMM (Shanghai, Lecong, Tianjin, Ningbo) amounted to 10,920 tonnes, marking a decrease of 120 tonnes or -1.1% from the previous day.
The futures market experienced volatile weakness with a late rally, leading to heightened market uncertainty. Speculative demand temporarily waned, and downstream buyers procured based on their needs, resulting in weaker hot-rolled coil transactions.
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