[SMM Daily Transaction of Hot-rolled Coils] On October 18, the total daily trading volume of hot-rolled coils among the sample enterprises in the four cities (Shanghai, Lecong, Tianjin, and Ningbo) monitored by SMM reached 14,790 tonnes, with a daily increase of 8,340 tonnes, or 129.3% from the previous day.
The futures market surged and then retreated. In the morning, the trading atmosphere in the market was fair, with traders actively shipping their products. In the afternoon, the market weakened, but traders reduced prices to sell, resulting in a relatively good overall trading performance of hot-rolled coils throughout the day.
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