[SMM Daily Transaction of Hot-Rolled Coils] On May 24th, the total daily transaction volume of hot-rolled coils in SMM’s three-city (Shanghai, Lechong, Tianjin) sample enterprises reached 11,030 tons, up by 280 tons or 2.6% day-on-day.

This week, the production of hot-rolled coils has increased by 40,800 tons day-on-day, leading to an increase in supply pressure; the futures market rose in the first half of the week, which improved the trading atmosphere in the market, stimulating the release of some demand. However, in the second half of the week, the transaction of hot-rolled coils has weakened significantly.