[SMM HRC Daily Transactions] Futures Fluctuate and Strengthen, Spot Transactions Become Increasingly Sluggish

[SMM HRC Daily Trading Volume] On January 23, the daily trading volume of HRC samples from four cities (Shanghai, Lecong, Tianjin, Ningbo) surveyed by SMM totaled 4,550 mt, down 410 mt or 8.30% MoM. The futures market slightly strengthened, and spot prices rose by 10-20 yuan/mt. As the year-end approaches, market trading sentiment has further weakened, with most traders and end-users entering holiday mode. Overall, transactions have become increasingly sluggish.