Inventory Reduction of Northern Hot-Rolled Coils May Narrow Amid Demand Challenges

【Difficulty in Increasing Demand: Inventory Reduction of Hot-Rolled Coils in the Northern Region May Narrow Next Week】

Looking ahead, next week marks the window period for domestic and international macroeconomic events, which is expected to intensify fluctuations in the black metals sector. On the industrial front, according to SMM research, short-term molten iron production continues to show a slight upward trend, while downstream demand for hot-rolled coils in November remains resilient, with production expected to gradually rebound. Fundamental contradictions are slowly accumulating. Furthermore, SMM research indicates that the impact of hot-rolling maintenance next week will be 115,900 tonnes, a decrease of 258,300 tonnes compared to this week. However, with demand struggling to increase, the supply pressure for hot-rolled coils will significantly intensify. Therefore, it is anticipated that the inventory reduction of hot-rolled coils in the northern market will start to narrow next week...