Summary of SMM Steel Morning Meeting: Market Confidence Increases, Overall Transactions of Hot-rolled Coil Remain Acceptable

Yesterday, the hot-rolled coil futures market was volatile but slightly strong, closing at 3761 yuan/ton in the afternoon, up by 0.29%. In terms of the spot market, the futures market initially fell and then rose, maintaining an overall upward trend, boosting market confidence. Downstream buyers were active and transactions were good, although some traders have limited inventory and are controlling their shipments.