SMM Hot Rolled Coil Inventory Review: National Inventory Declines for 11 Consecutive Weeks, What Will be the Subsequent Trend?

SMM's statistics this week show that the national inventory of hot-rolled coil in 69 warehouses (large sample) is 3.2777 million tons, a decrease of 184,300 tons compared to last week, a decrease of 5.32%, maintaining a continuous decrease in inventory for 11 weeks.

This week, domestic hot-rolled coil production increased month-on-month, but due to the impact of the northern cold wave and snowfall, some in-transit resources arriving at ports for storage were delayed. On the demand side, coil prices were initially suppressed and then rebounded, and the willingness for terminal low-price procurement was released to some extent. As a result of these factors, inventory continued to decrease significantly this week. In terms of regions, this week saw significant inventory declines in South China, East China, Northeast, and Central regions, while the North China market accumulated inventory compared to the previous period. For more details...