Hot-rolled steel social inventory up first time in 13 weeks

SHANGHAI, Jun 14 (SMM) – Social inventory of hot-rolled steel across China as of Thursday June 14 inched up for the first time in 13 weeks, SMM data showed.

Such inventory amounted to 2 million mt on Thursday, 17 weeks after Chinese New Year, up 1.1% from  a week ago but down 28.7% year on year.

This brought the country’s overall inventory of hot-rolled steel, which includes social and in-plant stocks, up 0.4% from a week ago to 2.95 million mt. This was down 24.2% year on year, however.

Meanwhile, the in-plant inventory as of June 14 dipped 1% week on week to 948,600 mt, after rising for two consecutive weeks. On a yearly basis, it was down 12.7%.