**Northern Hot-Rolled Coil Fundamentals: Inventory Decline Trend May Continue Next Week**

**[Return to Fundamentals Trading: Northern Hot-Rolled Coil May Continue Inventory Decline Trend Next Week]**

Looking ahead, ahead of the important macroeconomic conference in December, the black metals sector has temporarily returned to fundamentals-based trading, with downstream industries demonstrating a strong risk-awareness mindset. In terms of the industry, according to SMM surveys, the impact of hot-rolled coil maintenance next week will be 174,700 tonnes, a decrease of 235,000 tonnes compared to this week. Furthermore, molten iron production is declining slowly in the short term, steel inventory pressure is relatively low, and fundamental contradictions are weak...