**Hot-Rolled Steel Coil Supply Tight; Social Inventory Declines Further**

**[SMM Weekly Hot-Rolled Steel Coil Balance & Social Inventory Inventory Check] Supply at Low Levels; Social Inventory Continues Declining Trend**

This week, SMM's statistics on the social inventory of hot-rolled steel coils in 86 warehouses (large sample) across the country amounted to 3.7076 million tonnes, representing a decrease of 166,700 tonnes or 4.3% from the previous week, and a year-on-year decrease of 11.89% based on the lunar calendar. This week, the social inventory across the country continued to decline, with the overall rate of decline narrowing. Regionally, the markets with significant declines were East China, South China, and North China. In detail...