[SMM HRC Daily Trading Volume] On January 22, the daily trading volume of HRC from sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) surveyed by SMM totaled 4,960 mt, down 2,650 mt or 34.8% MoM.
The futures market fluctuated, spot prices dropped by 10-30 yuan/mt. As the year-end approaches, market trading sentiment remained sluggish, with most traders and end-users already entering holiday mode. Overall, trading volume has hit rock bottom.

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