【SMM Daily Transaction Volume of Hot Rolled Coil】On May 31st, the total daily transaction volume of hot rolled coil in the three cities (Shanghai, Lechong, Tianjin) sampled by SMM reached 9,290 tons, down by 3,540 tons or 27.6% from the previous day.

This week, the spot transaction atmosphere was slightly below average and weaker than last week. The early major favorable policy impact has subsided, while the impact of steel control policies this week was minor. In addition, the official manufacturing PMI in May was 49.5%, and the manufacturing boom level fell below the break-even line. The market sentiment was cautious, and downstream terminals mostly purchased on demand.