SMM Hot Rolled Coil Inventory: Supply Pressure Continues to Ease, Inventory Continues to Decline This Week

SMM Steel reported on October 19th that this week's total hot rolled coil inventory was 3.7688 million tons, down 127,800 tons from last week, down 3.28% year-on-year and up 24.41% year-on-year. This week's total hot roll inventory, social inventory and plant inventory all decreased slightly. This week's hot roll output continued to decline, mainly due to the further expansion of steel plant maintenance. On the demand side, recent weak price rebounds, procurement and processing levels have improved in many places, and the decline in output and slight warming of demand have led to an increase in inventory declines this week...