SMM Daily Hot-Rolled Coil Transaction Volume Up 3.1% on October 30

[SMM Daily Transaction Volume of Hot-Rolled Coils] On October 30, the total daily transaction volume of hot-rolled coils among the sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) amounted to 11,620 tonnes, with a daily increase of 350 tonnes or 3.1% compared to the previous day.

The futures market opened higher but closed lower, with a generally muted trading atmosphere. Speculative demand was relatively weak, and downstream end-users exhibited a heavy wait-and-see mindset. Consequently, the transaction volume of hot-rolled coils was on the lower side.