SMM Hot-rolled Daily Review: Futures market rallied at the end of the session, spot market transactions remain acceptable.

The spot price in the Shanghai market was around 3990 at the end of the session today, a slight increase from yesterday, with overall acceptable transactions. Some traders closed the position after noon and waited for the price to rise. The spot price at the Lecong market was 4020-4030 at the end of the session, with moderate overall transactions today. The market rallied at the end of the afternoon, and transactions improved, but the morning transactions were mediocre. Some traders were affected by delayed arrivals from steel mills, resulting in almost no transactions. The northern market had moderate overall transactions today, with average transactions in Shenyang, and end-users purchasing on demand, while traders had an acceptable level of shipment. The market in Tangshan had moderate transactions, with better transactions at low prices. Some traders raised prices at the end of the session, but transactions were slow.