Supply Glut Persists, Inventories Pile Up in Northern Steel Markets Amid Pessimism and Weak Demand

[Traders are equally pessimistic, and there is still a risk of inventory accumulation in northern cities]

In summary, the supply side remains strong, with hot-rolled steel production declining at steel mills, but inventories continue to accumulate, and warehouse overflow phenomena are still emerging in the market. August is still in the traditional off-season for demand, coupled with the fact that futures prices have been in a downward trend, leading to even weaker downstream demand. In addition, traders are equally pessimistic, and during times of market panic, various low prices emerge endlessly, making it difficult to actively ship goods. Therefore, there is still a risk of inventory accumulation in the northern market, and inventory reduction faces numerous difficulties...