【SMM HRC Weekly Balance】Maintenance Affects Production, Continues to Decline This Week; Demand Cools WoW

• SMM HRC Weekly Balance

• HRC Production Down WoW This Week

This week, due to maintenance at some steel mills in north and south China, HRC production continued to decline.

• Social Inventory of HRC Continued to Decrease This Week

According to SMM's statistics, the social inventory of HRC in 86 major warehouses across the country was 4.4252 million mt, down 76,400 mt or 1.7% WoW, and up 1.81% YoY. The national social inventory continued to decrease this week. By region, the declines in south and north China were higher than those in east, central, and north-east China. [SMM Steel]

• In-Plant Inventory of HRC Down WoW This Week

The WoW decline in steel mill inventory narrowed this week.

Note:

1. SMM's weekly HRC production/apparent demand/inventory data covers 40 sample steel enterprises and 86 mainstream market warehouses nationwide.

2. As of October 31, 2024, SMM's weekly HRC production and steel mill inventory data covered 85% of the national HRC capacity.

3. SMM conducts surveys every Wednesday and releases the data on Thursday morning.