[SMM HRC Daily Transactions] Futures Strengthened at the Close, Spot Transactions Plummeted to the Bottom

Published: Jan 24, 2025 16:41

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[SMM HRC Daily Trading Volume] On January 24, the daily trading volume of HRC among sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) surveyed by SMM totaled 2,690 mt, down 1,860 mt or 40.9% MoM. Futures prices rose during the late trading session, while spot prices showed relatively small fluctuations. As the year-end approaches, the market is characterized by prices without transactions, with most traders and end-users already in holiday mode. Overall, trading volume has hit rock bottom.

[SMM HRC Daily Trading] On January 24, the daily trading volume of HRC from sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 2,690 mt, down 1,860 mt (-40.9%) MoM. Futures prices surged during the late session, while spot prices remained relatively stable. As the year-end approaches, the market saw prices without transactions, with most traders and end-users already in holiday mode. Overall, trading has hit rock bottom.

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