SMM Hot Rolled Coil Inventory: Inventory in social warehouses stops decreasing and turns to increase, total inventory ends 6-week downward trend.

SMM Steel and Iron News on January 4: The total inventory of hot-rolled coil this week is 3.103 million tons, an increase of 36,100 tons from last week, an increase of 1.17% from the previous period, and a year-on-year decrease of 6.50%. Entering 2024, the total inventory of hot-rolled coils has ended a 6-week downward trend, and the inventory in social warehouses has also turned from a decrease to an increase. Steel mills are actively shipping and the inventory in mills has decreased slightly. Some steel mills continue to be affected by maintenance, leading to a further decrease in hot-rolled coil production and a slight reduction in mill inventory. In terms of demand, coil prices have been fluctuating, and have been affected by the New Year's holiday and the resumption of shipping schedules at some steel mills, resulting in a stop in the decrease of inventory in social warehouses and an overall impact. As a result, the total inventory of hot-rolled coils this week has ended the 6-week consecutive downward trend.