[SMM HRC Daily Trading] On January 17, the daily trading volume of HRC from sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) surveyed by SMM totaled 11,770 mt, down 3,420 mt or 22.5% MoM.
The futures market continued its strong rebound, and spot prices rose by 10-30 yuan/mt. As the year-end approaches, some traders have started wrapping up their work. Overall, trading has weakened, and with downstream and agents gradually taking holidays, a further decline in trading activity seems likely.
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