SMM HRC Daily Trading Volume Drops 40.9% MoM on January 24

[SMM HRC Daily Trading Volume] On January 24, the daily trading volume of HRC among sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) surveyed by SMM totaled 2,690 mt, down 1,860 mt or 40.9% MoM.

Futures prices rose during the late trading session, while spot prices remained relatively stable. As the year-end approaches, the market is characterized by prices without transactions, with most traders and end-users already in holiday mode. Overall, trading volume has hit rock bottom.