SMM Daily Hot Rolled Coils Transaction Volume Rises 2.1% on Market Confidence Boost, Reaching 11,440 Tons

【SMM Daily Transaction Volume of Hot Rolled Coils】On August 30, the daily transaction volume of hot rolled coils among the sampled enterprises in the four cities of SMM (Shanghai, Lecong, Tianjin, and Ningbo) totaled 11,440 tons, with a daily increase of 240 tons or 2.1% compared to the previous day.

The futures market fluctuated, and rumors that the existing mortgage interest rate would be lowered circulated in the market, boosting market confidence. As a result, downstream purchasing enthusiasm increased, and the transaction of hot rolled coils was generally good.