[SMM HRC Daily Trading Volume] On February 26, the daily trading volume of HRC sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM totaled 21,280 mt, up 8,520 mt day-on-day (+66.8%).
Today, futures surged strongly, and spot prices increased by 20-50 yuan/mt. The market trading atmosphere was excellent, especially in east and south China, with a significant release of previously suppressed demand due to low prices. Overall trading returned to peak season levels. Subsequent demand may decrease, but the decline is expected to be limited.
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