SMM hot coil daily review: on the first day after the holiday, hot coil spot prices in many areas surged significantly

Today, the spot market transactions have not yet shown a significant increase in volume. Most businesses in the East China market will gradually resume work from the tenth day of the lunar new year, and the market has strong expectations for the release of post-holiday demand. Spot prices have risen one after another, as of the 18th, with prices in the Shanghai and Zhangjiagang areas rising by 50-80 yuan/ton compared to before the holiday, and prices in Ningbo, Hangzhou, Wuxi, and Boxing have also shown varying degrees of increase, with limited actual transactions. In the South China region, most businesses in the Lecong market will concentrate on starting work in the next two days, with prices in the Lecong market rising by 30-50 yuan/ton before the holiday. In the Northern market, traders and processing plants have gradually resumed work, with prices in Tianjin, Shenyang, and Tangshan remaining relatively strong before the holiday, but with limited actual transactions.