SMM HRC Weekly Balance: Production Steady, Inventory Decline Accelerates

【SMM HRC Weekly Balance】Production fluctuated rangebound this week, while the decline in inventory expanded.

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

This week, the national HRC social inventory in 86 warehouses (large sample) surveyed by SMM stood at 4.1936 million mt, down 257,400 mt WoW, a decrease of 5.78% WoW, and down 4.06% YoY on a lunar calendar basis. The national social inventory continued to decline this week, with the rate of decrease expanding. By region, the declines in east China, south China, and north China were greater than those in central China and north-east China.