SMM Hot-rolled Coil Inventory: Poor enthusiasm for terminal purchases, total inventory continues to accumulate

SMM Steel 11th January, 2024: This week, the total inventory of hot-rolled coil is 3.1311 million tons, an increase of 20,800 tons compared to last week, a 0.67% increase month-on-month, and a 26.98% increase compared to the same period last year. In the fifth week before the 2024 holiday, the total inventory of hot-rolled coil continues to accumulate, and the social inventory continues to accumulate. This week, production decreased, and factory inventory turnover remained unchanged. Some steel mills have expanded losses, and the impact of maintenance continues, with a decrease in the month-on-month hot-rolled coil production and a slight reduction in factory inventory turnover. In terms of demand, coil prices have fallen, and the enthusiasm for terminal purchases has been dampened. Compared to last week's data, social inventory continues to increase. Under the comprehensive impact, the total inventory of hot-rolled coil continues to accumulate this week.