HRC Inventory Further Increased Amid Rising Output

SHANGHAI, Apr 4 (SMM) - The total HRC inventory dropped 1.4% on the week, with social inventory falling 3.2%, and in-plant inventory at steel mills rising 3.7%. Last week, the decline in the total HRC inventory slowed down as the social inventory continued to decline. But the in-plant inventory increased due to the rising output. The falling HRC prices stimulated the terminal demand, leading to a decline in inventory. The inventory in south, north-east and east China declined more rapidly, while that in north and central China fell slowly. In the follow-up stage, the resilient rigid demand will ease the supply pressure of HRC. It is expected that the total inventory of HRC will continue to fall this week, but the decline will slow down.