SMM HRC Daily Trading Volume Plummets as Futures Drop and Spot Prices Decline

【SMM HRC Daily Trading Volume】Futures Return to Low Levels, Spot Trading Volume Drops Significantly

【SMM HRC Daily Trading Volume】On April 29, the combined daily trading volume of HRC among sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM was 8,740 mt, a decrease of 2,610 mt or 23% on a daily basis.

Today, futures returned to low levels, and the spot price decreased by 10-30 yuan/mt on a WoW basis. With the short time window before the holiday and the sluggish futures market, the market trading atmosphere deteriorated, and the daily trading volume decreased significantly on a WoW basis.