SMM Reports 46.3% Daily Surge in Hot-Rolled Coils Transaction Volume Amid Morning Futures Rally and Afternoon Market Softening

[SMM Daily Transaction Volume of Hot-rolled Coils] On October 10th, the daily transaction volume of hot-rolled coils among SMM's sample enterprises in four cities (Shanghai, Lecong, Tianjin, and Ningbo) totaled 13,910 tonnes, representing a daily increase of 4,400 tonnes or 46.3% compared with the previous day.

The futures market saw a slight surge in the morning, coupled with some traders unloading goods at low prices, which created a positive trading atmosphere in the market. Downstream buyers actively purchased, but the market weakened in the afternoon as most downstream buyers retreated to the sidelines. Overall, the transaction of hot-rolled coils remained robust throughout the day.