[SMM Daily Commentary on Hot-rolled Coil: Is the Accumulation Rate of Hot-rolled Coil Inventory Increasing Again? Trading Volume Poor Today!] Today's hot-rolled coil futures market experienced a weak and volatile session, closing at 3222 in the afternoon, with a decline of 1.71%. The futures market continued to decline, and trading sentiment remained subdued, resulting in poor intraday trading volume for hot-rolled coils. The recent consecutive declines in coil prices have triggered market panic. According to the weekly balance data surveyed by SMM today, hot-rolled coil production this week continued to decline on a week-on-week basis, and subsequent steel mill maintenance plans remain relatively intensive, indicating a further expected decline in hot-rolled coil production. However, apparent demand has declined significantly, and weakening demand has struggled to drive hot-rolled coil consumption. Inventories remain high, and the accumulation rate has increased on a month-on-month basis. Currently, the cost support for hot-rolled coils is weak, but from the perspective of downstream industries, indirect exports of plates still show resilience year-on-year. Overall, it is expected that hot-rolled coil prices will continue to experience weak and volatile movements in the short term.