[SMM HRC Daily Trading] On March 17, the daily trading volume of HRC from SMM sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 12,830 mt, down 5,100 mt day-on-day (-28.4%).
Futures showed a weak trend today, with spot prices dropping by 20-50 yuan/mt. The weak futures market led to slightly sluggish spot trading, mainly driven by purchasing as needed. Inquiry-based transactions were difficult, and the daily trading volume saw a significant decline.
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