SMM HRC Inventory Review: Northern Demand Declines, Inventory Decline Narrows

[SMM HRC Weekly Balance & Social Inventory Review] Northern Demand Begins to Shrink, Social Inventory Decline Continues to Narrow

This week, SMM's statistics for 86 warehouses nationwide (large sample) show HRC social inventory at 3.1669 million mt, down 73,900 mt WoW, down 2.28% MoM, and down 20.69% YoY. This week, the national social inventory continued to destock, with the decline further narrowing. By region, central China, north China, and north-east China began to see a slight inventory buildup, while east China and south China markets continued destocking. For more details...