SMM Daily: Hot-Rolled Coil Transactions Jump 38.4% on Nov 4

[SMM Daily Hot-Rolled Coil Transactions] On November 4, the total daily hot-rolled coil transactions of sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) amounted to 14,740 tonnes, with a daily increase of 4,090 tonnes or +38.4% compared to the previous day.

The futures market oscillated with a slight uptick towards the closing bell. The market trading atmosphere was moderate, with some speculative demand emerging. However, most downstream buyers purchased based on their needs, resulting in generally average hot-rolled coil transactions.