SMM HRC Weekly Balance: Production Fluctuated Rangebound This Week, Inventory Decline Expanded.

• SMM HRC Weekly Balance

• This week, HRC production fluctuated rangebound.

This week, some steel mills in north and south China were still under maintenance, and HRC production fluctuated rangebound MoM.

• This week, HRC social inventory continued to decline.

This week, SMM's survey of 86 warehouses (large sample) nationwide showed HRC social inventory at 4.1936 million mt, down 257,400 mt MoM, a decrease of 5.78% MoM, and down 4.06% YoY on a lunar calendar basis. This week, national social inventory continued to decline, with the rate of decline expanding. By region, the declines in east, south, and north China were greater than those in central and north-east China. [SMM Steel]

• This week, HRC in-plant inventory declined MoM.

This week, steel mill inventory continued to decline.

Note:

1. SMM's weekly HRC production/apparent demand/inventory data is based on a sample of 40 steel mills and 86 mainstream market warehouses nationwide.

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

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