[SMM Daily Transaction of Hot Rolled Coils] On October 22, the total daily trading volume of hot rolled coils among SMM's sample enterprises in four cities (Shanghai, Lecong, Tianjin, and Ningbo) was 9,470 tonnes, representing a daily decrease of 1,400 tonnes, or -12.9% compared with the previous day.
Futures prices fluctuated and weakened, leading to a strong sentiment of wait-and-see among market participants. Traders were also pessimistic, and downstream terminals showed low enthusiasm for purchasing, resulting in poor transactions of hot rolled coils.
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