Hot-Rolled Steel Coil Social Inventories Plunge 4.80% Week-on-Week Amid Production Cuts & Market Diversification

[SMM Weekly Hot-rolled Steel Coil Balance & Social Inventory Overview] Production Cuts & Diversification: Significant Decline in Social Inventory This Week

According to SMM statistics, the social inventory of hot-rolled steel coils in 86 warehouses (large sample) nationwide reached 4.7056 million tonnes this week, with a decrease of 237,300 tonnes (-4.80%) from the previous week and an increase of 11.81% YoY (based on the Gregorian calendar). Inventories across the country are being reduced, with notable declines in the East China and North China markets. In detail...