SMM Hot Coil Daily Review: Market Sentiment Cautiously Watching, Hot Coil Future Prices Continue to Fall

Today, the overall prices in the East China market continued to decline, with Shanghai market transactions performing poorly and a wait-and-see attitude prevailing. The closing prices in Zhangjiagang market were around 3910-3920, and low-priced transactions were still available. In the Southern region, the closing prices in Lecong market were 4000-4020, a decrease of 50 yuan/ton from yesterday, and market transactions were weak, with spot prices mostly lower than agency costs, and there was a clear mentality of holding prices and reluctant sales, with some speculative demand entering the market. Today, the overall transactions in the Northern market continued to decrease. The spot prices in Tangshan at the close were 3890, a decrease of 40 yuan/ton from the previous period, with consecutive declines in the futures market and significantly reduced transactions. The spot prices in Shenyang at the close were 3880, a decrease of 50 yuan/ton from the previous period, with poor transactions.