SMM: Daily Hot Rolled Coils Transaction Volume Drops 23.1% to 11,750 Tonnes on September 20

[SMM Daily Transaction Volume of Hot Rolled Coils] On September 20, the daily transaction volume of hot rolled coils from sample enterprises in the four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM totaled 11,750 tonnes, with a daily decline of 3,520 tonnes, or 23.1% compared to the previous day.

The futures market showed strength initially but weakened later, with transactions mainly concentrated in the morning. The market was largely in a wait-and-see mode in the afternoon, resulting in overall weak transaction volumes of hot rolled coils throughout the day.