Daily Hot-Rolled Coil Transaction Volume Drops 26.5% Amid Market Fluctuations on October 21

[SMM Daily Transaction Volume of Hot-rolled Coils] On October 21, the total daily transaction volume of hot-rolled coils among the sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, and Ningbo) reached 10,870 tonnes, with a daily decrease of 3,920 tonnes or 26.5% compared to the previous day.

The futures market surged and then retreated, but the fluctuation was relatively small. In the morning, the market trading atmosphere was still acceptable. However, the market weakened in the afternoon, and downstream buyers adopted a wait-and-see attitude, resulting in generally average transaction volume of hot-rolled coils throughout the day.