HRC Social Inventory Climbs For The First Time In Nearly A Month, While In-Plant HRC Inventory Of Steel Mills Stop Growing

SHANGHAI, May 5 (SMM) - The total inventory of HRC across social warehouses and steel makers in China stood at 3.37 million mt as of May 4, up 107,300 mt or 3.29% from a week ago, but a drop of 10.34% on the year. The social inventory has risen for the first time in nearly a month, while the in-plant inventory of steel makers stopped growing and began to fall due to output cuts or maintenance. HRC supply fell slightly on a weekly basis. The end market was almost stagnant due to the Labour Day holiday, pushing up the social inventory.