【SMM HRC Weekly Balance】Production Pulled Back Slightly MoM, Social Inventory Declined Faster This Week

• SMM HRC Weekly Balance

• This week, HRC production decreased MoM.

This week, some steel mills in north-east and north China completed maintenance, and pig iron flow resumed in some steel mills in south China, leading to a slight MoM decline in HRC production.

• This week, the decline in HRC social inventory expanded.

This week, SMM's statistics showed that the HRC social inventory in 86 warehouses nationwide (large sample) was 3.8347 million mt, down 195,800 mt MoM, a 4.86% MoM decrease, and an 8.8% YoY decrease. This week, the national social inventory continued to decline. By region, the declines in south, east, and north China markets were larger than those in central and north-east China markets. [SMM Steel]

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

This week, steel mill inventory increased MoM.