SMM Reports 26.1% Daily Decline in Hot-Rolled Coil Transactions Amid Market Hesitation

[SMM Daily Transaction Volume of Hot-rolled Coils] On August 22, the total daily transaction volume of hot-rolled coils from sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, and Ningbo) amounted to 12,370 tons, with a daily decrease of 4,380 tons or 26.1% compared to the previous day.

The futures market first rose and then fell, triggering renewed market hesitation. As a result, transactions weakened in the afternoon, and overall transactions of hot-rolled coils were average throughout the day.