SHANGHAI, Dec 31 (SMM)—Inventories of hot-rolled coils of steel sheets used to produce home appliances and cars in China expanded this week.
SMM data showed that HRC stocks across social warehouses and steel makers expanded 126,700 mt or 4.43% from the previous week, and 21.22% on the year, to 2.99 million mt in the week ended December 31.
Inventories across social warehouses increased 86,900 mt or 4.54% week on week to 2 million mt. This was 22.52% higher than the same period last year.
Stocks at Chinese steel makers came in at 986,500 mt, up 39,900 mt or 4.21% week on week and 18.67% year on year.
