SMM Hot Rolled Daily: Iron ore futures sharply lower, cold-rolled spot trading sluggish

The spot price in the Shanghai market fell to around 4000 at the end of the day, a sharp decline compared to the previous period, with a deviation in market sentiment and sluggish sales from merchants. The closing price in the Lecong market was 4090-4100, with overall weak trading, and mainly based on end-demand procurement, with a cautious wait-and-see attitude towards the falling price market. Today, the northern market had poor trading, with the Shenyang market being particularly sluggish, with both end-users and traders adopting a cautious wait-and-see approach, with few transactions. The Tangshan market had a deviation in trading, with some traders offering low-priced goods, but with poor results, as end-user purchases remained cautious.