HRC Futures Rise with High Spot Transaction Volumes Despite Slight Daily Decline

[SMM HRC Daily Transactions] HRC Futures Fluctuate Upward, Spot Transactions Remain at High Levels

[SMM HRC Daily Trading] On March 12, the daily trading volume of HRC sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM totaled 16,580 mt, down 540 mt or 3.2% day-on-day.

Today, futures fluctuated upward, and spot prices rose by 10-20 yuan/mt. In the afternoon, rumors spread widely, and end-users showed strong bullish sentiment, actively purchasing. However, traders were reluctant to sell due to bullish expectations. The market trading atmosphere was relatively positive, and overall transactions remained at a high level.