**SMM Daily Hot-Rolled Coil Transaction Volume Drops 4.5% on Oct 31st**

**[SMM Daily Transaction Volume of Hot-Rolled Coils] October 31st Update**

On October 31, the total daily transaction volume of hot-rolled coils among sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, and Ningbo) amounted to 11,100 tonnes. This represents a daily decrease of 520 tonnes, or -4.5%, compared to the previous day.

The futures market experienced volatile movements, leading to a cooling off in market trading sentiment. Downstream terminals exhibited a heightened sense of wait-and-see, resulting in weaker transaction performance for hot-rolled coils.