[SMM Daily HRC Trading Volume] Spot trading volume declined significantly

Today, HRC futures prices continued to hold up well, with the most-traded contract closing at 3,343, up 0.42% intraday. In the spot market, prices edged up 10 yuan/mt, while intraday transaction performance weakened WoW from yesterday. In terms of supply, the impact from maintenance for hot rolling this week was 246,700 mt, up 72,100 mt WoW; next week's impact from maintenance for hot rolling is expected to be 95,100 mt, down 151,500 mt WoW, keeping production at a relatively low level. On the demand side, downstream demand has not been fully released, with no significant stockpiling or restocking activities seen. The market remains in a pattern of both supply contraction and weak demand. It is expected that HRC prices will continue to be driven by the relatively strong raw material side in the short term, mainly fluctuating at high levels.

Today, the DCE iron ore futures consolidated on a subdued note. The most-traded I2701 contract on DCE closed at 713.5 yuan/mt, down 0.28% from the previous trading day. Spot prices at Qingdao port fell by 0-2 yuan/mt, traders sold at market prices, and steel mills restocked as needed. The overall spot trading sentiment was sluggish, with trading volume slightly up from yesterday.