SMM Reports 7.7% Daily Decline in Hot-Rolled Coil Trading Volume Amid Market Pessimism and Inventory Buildup

[SMM Daily Trading Volume of Hot-rolled Coils] On October 9, the total daily trading volume of hot-rolled coils from the sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, and Ningbo) reached 9,510 tonnes, a daily decrease of 790 tonnes or 7.7% compared to the previous day.

The futures market continued to experience sharp declines, triggering widespread pessimism in the market. Coupled with the accumulation of hot-rolled coil inventories, many downstream buyers have retreated to the sidelines, resulting in poor trading performance of hot-rolled coils.