[total hot volume inventory fell 1.17% this week, entering an accelerated decline]-Shanghai Metals Market

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[total hot volume inventory fell 1.17% this week, entering an accelerated decline]

Translation 07:24:07PM Mar 07, 2019 Source:SMM

On the treasury side: the country's total stocks are now 3.683 million tons, down 1.117% from last week and 6.6% lower than the same period last year (four weeks after the Lunar New year festival), a reduction of 64000 tons from a week ago. With the recovery of the terminal, the total inventory began to continue to decline. Social warehouse: this week the national hot rolling social inventory of 2.6847 million tons, down 1.98% from the previous week, down 6.1% from the same period last year (four weeks after the Lunar New year festival). The digestion speed of the downstream terminal to the steel inventory is accelerated, and the inventory change range has been changed from rising to falling. It rose 0.5% last week, and social inventories are expected to continue to drive down total inventories next week. Warehouse: steel mill inventory 99.83 this week, down 0.98% from last week and 7.8% lower than the same period last year (4 weeks after the Lunar New year festival). The factory warehouse has fallen for two weeks in a row, from a peak of 106.35 to 99.83. On the price side: last week's average price was 3835, and this week's average price was 3853. It fluctuated and rose, in line with SMM expectations. With the volume of transactions, the further relief of inventory pressure and the impact of good news of the trade war, Hot coil prices are expected to remain volatile next week [SMM Steel]

Key Words:  Inventory  daily review 

[total hot volume inventory fell 1.17% this week, entering an accelerated decline]

Translation 07:24:07PM Mar 07, 2019 Source:SMM

On the treasury side: the country's total stocks are now 3.683 million tons, down 1.117% from last week and 6.6% lower than the same period last year (four weeks after the Lunar New year festival), a reduction of 64000 tons from a week ago. With the recovery of the terminal, the total inventory began to continue to decline. Social warehouse: this week the national hot rolling social inventory of 2.6847 million tons, down 1.98% from the previous week, down 6.1% from the same period last year (four weeks after the Lunar New year festival). The digestion speed of the downstream terminal to the steel inventory is accelerated, and the inventory change range has been changed from rising to falling. It rose 0.5% last week, and social inventories are expected to continue to drive down total inventories next week. Warehouse: steel mill inventory 99.83 this week, down 0.98% from last week and 7.8% lower than the same period last year (4 weeks after the Lunar New year festival). The factory warehouse has fallen for two weeks in a row, from a peak of 106.35 to 99.83. On the price side: last week's average price was 3835, and this week's average price was 3853. It fluctuated and rose, in line with SMM expectations. With the volume of transactions, the further relief of inventory pressure and the impact of good news of the trade war, Hot coil prices are expected to remain volatile next week [SMM Steel]

Key Words:  Inventory  daily review