**Daily Hot-Rolled Coil Transactions Decline by 4.1% on Weak Futures Market Momentum**

**[SMM Daily Hot-Rolled Coil Transactions]** On November 1, the total daily hot-rolled coil transactions of sample enterprises across SMM's four cities (Shanghai, Lecong, Tianjin, and Ningbo) amounted to 10,650 tonnes, marking a daily decrease of 450 tonnes or -4.1%.

The futures market exhibited weak momentum, resulting in a chilled trading atmosphere. Speculative demand has largely disappeared, and downstream terminals have stepped away from the market, adopting a wait-and-see approach. Consequently, hot-rolled coil transactions were relatively poor.