Daily Hot-Rolled Coil Transaction Volume Drops 7.3% Amid Market Uncertainty and Wait-and-See Attitude

Published: Sep 2, 2024 17:34

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[SMM Daily Transaction Volume of Hot-rolled Coils] On September 2, the total daily transaction volume of hot-rolled coils among the sample enterprises in SMM's four major cities (Shanghai, Lecong, Tianjin, and Ningbo) amounted to 10,610 tonnes, representing a daily decrease of 830 tonnes or 7.3% compared with the previous day. The futures market showed a significant downward trend, and the official PMI data remained below the expansion and contraction line, indicating inadequate market confidence and a prevailing wait-and-see attitude, leading to weaker transactions of hot-rolled coils.

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