SMM Daily Hot-Rolled Steel Coil Transaction Volume Drops 22.3% on Nov 14

**[SMM Daily Transaction Volume of Hot-rolled Steel Coils]** On November 14, the total daily transaction volume of hot-rolled steel coils among the sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) amounted to 10,660 tonnes, with a daily decrease of 3,060 tonnes, or -22.3% compared to the previous day.

The futures market experienced volatile weakness, and the trading atmosphere cooled. Only a small number of traders took advantage of the low prices to purchase goods, while most downstream terminals stepped away from the market to adopt a wait-and-see approach. As a result, the transaction volume of hot-rolled steel coils throughout the day was relatively poor.