[brief Review of SMM Thread] the library of the social database factory has been increased, and the inventory inflection point has been reached.

总库存：本周总库存779.66万吨， 较上周+19.9万吨， 环比增长2.6%，较去年同期增长108.97万吨，同比增长16.2万吨。
社会库存：本周社会库存552.06万吨，较上周+10.24万吨，环比增长1.9%，较去年同期增长了76.82万吨，同比增长16.2%。
厂内库存：本周厂内库存227.6万吨， 较上周+9.65万吨，环比增长4.4%，较去年同期增长了32.15万吨， 同比增长了16.4%。

This week, driven by the double increase in the social warehouse factory, the total inventory has increased after two consecutive months of decline. In terms of plant and warehouse, the opening rate of steel mills is not reduced, the output continues to rise, and the inventory accumulation is serious. The social database increased by 102400 tons, mainly due to the increase in the number of Rain Water this week, coupled with restrictions on the construction of the college entrance examination, rigid demand fell, market transactions can be reflected. In the futures trading reached this week's small peak next Tuesday, spot prices rose and fell back, the market situation is cold, downstream "buy up or down" the idea of taking goods is not strong, the shipping situation is poor. At present, Rain Water aggravated the decline in demand, steel mill profits are still in the situation to maintain a high supply, in order to appease the market pessimism, this week the major steel mills in East China issued price adjustment policies, take the initiative to allow profits to avoid the intensification of the contradiction between supply and demand. On the whole, the fundamentals weakened this week, in line with expectations, the national average price fell 47.4 yuan / ton to 4011.4 yuan / ton, officially entered the rigid demand decline stage. [SMM Steel]