[SMM Weekly Hot-rolled Steel Balance & Social Inventory Summary] Obvious Decline in Surface Demand and Larger Accumulation of Social Inventories

This week, SMM's statistics on the social inventories of hot-rolled steel in 86 warehouses (large sample) across the country reached 4.3474 million tons, up 162,900 tons from the previous week, representing a 3.89% increase from the previous week and a 15.13% increase year on year in the new calendar year. Regionally, the inventories in South China, Central China, East China, North China, and Northeast China all showed an increase. To be specific...