In summary, some mainstream resources plan to shift shipments to east China due to price spreads. Meanwhile, the market has learned that YFDH may plan to reduce its production load. Subsequently, supply in Lecong is expected to decrease slightly, but overall remains high compared to previous years, while demand is feared to weaken over time. Therefore, according to SMM predictions, a smooth destocking path for Lecong hot-rolled coil remains distant, and inventory may hover at these high levels in the short term. *This report is an original and/or compiled work of SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM"). SMM legally owns the copyright and is protected by laws and regulations such as the Copyright Law of the People's Republic of China, as well as applicable international treaties. Without written permission, it shall not be reproduced, modified, sold, transferred, displayed, translated, compiled, disseminated, or disclosed to any third party or licensed for use by any third party in any other form. Otherwise, once discovered, SMM will pursue legal action against the infringing party, including but not limited to demanding liability for breach of contract, restitution of unjust enrichment, and compensation for direct and indirect economic losses.

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