SHANGHAI, May 17 (SMM) – Overall hot-rolled coil inventories in China, as of Thursday May 17, dropped 2.2% from a week ago and 26.2% from a year ago to register at 3.12 million mt, SMM data showed.
The overall week-on-week decline marked the 11th consecutive week of decline. It fell faster from a drop of 1.6% a week ago. The total figure includes social inventories and inventories at mills 13 weeks after Chinese New Year.
Social inventories of hot-rolled coil shrank 2.4% on the week and 27.9% on the year, to stood at 2.18 million mt. In-plant nventories across mills declined 1.6% from a week ago and 21.8% from a year ago, and stood at 942,700 mt.
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