Daily Transaction Volume of Hot-rolled Coils Drops 1.8% Amid Market Chill, Futures Plunge

【SMM Daily Transaction Volume of Hot-rolled Coils】On September 5, the daily transaction volume of hot-rolled coils among the sampled enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, and Ningbo) totaled 9,920 tonnes, a daily decline of 180 tonnes or 1.8%.

The futures market continued to plunge significantly, leading to a chilly trading atmosphere in the market. Downstream buyers retreated to the sidelines, resulting in poor trading performance for hot-rolled coils.