SMM HRC Daily Trading Volume Surges 44.7% MoM on Feb 10 Amid Price Fluctuations

[SMM HRC Daily Trading] On February 10, the daily trading volume of HRC from sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM totaled 11,330 mt, up 3,500 mt (+44.7%) MoM.

Futures prices initially fell but later rebounded today, while spot prices slightly decreased by 10 yuan/mt. The low-price transactions in the South China market showed moderate performance, with end-use demand recovering earlier than in other markets, leading to a significant MoM increase overall.