Daily Trading Volume of Hot-rolled Coils Jumps 12.3% on August 21, Boosted by Futures Gains and Robust Downstream Demand

[SMM Daily Trading Volume of Hot-rolled Coils] On August 21, the daily trading volume of hot-rolled coils among the sample enterprises in SMM's four major cities (Shanghai, Lecong, Tianjin, and Ningbo) totaled 16,750 tons, representing a daily increase of 1,830 tons or 12.3% compared to the previous day.

The futures market experienced notable gains, with an increase in speculative demand and bottom-fishing activities. Coupled with the improved enthusiasm for downstream procurement, the trading of hot-rolled coils remained solid.