[SMM Hot-rolled Steel Daily Transaction Volume] On July 5th, the total daily transaction volume of hot-rolled steel of sample enterprises in SMM's three cities (Shanghai, Lecong, and Tianjin) was 10,060 tons, a daily decline of 1,060 tons, or -9.5%.

The futures market weakened significantly, with a strong sentiment of wait-and-see among market participants. Speculative demand disappeared, and traders faced difficulties in selling their goods, leading to deviations in hot-rolled steel transactions.