【SMM Hot-rolled Daily Review: Cost support continues at high levels, hot coil prices fluctuate widely】

At the end of the day, the spot price in the Shanghai market is around 3970-3980, with low-price transactions mainly. The overall transaction performance is average. The closing price in the Lecong market is 4030-4040, with overall acceptable transactions today. There was a late-day rally, and transactions improved, with purchases mainly at the storefront terminal and traders gradually stocking up. The transactions in the northern market today are general. In particular, the Shenyang market is trading at a normal level, with downstream terminals making purchases as needed and acceptable trade speculation demand. After the late-day rally, transactions weakened. The Tangshan market has general transactions, with strong price pressure from downstream terminals and acceptable low-price transactions.