SMM Steel reported on July 27th that the total inventory of hot rolled

Published: Jul 27, 2023 16:58

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SMM Steel reported on July 27th that the total inventory of hot rolled coils was 3.3157 million tons this week, down 70,700 tons from last week, a decrease of 2.09% year-on-year and 15.31% year-on-year. This week, the total inventory of hot coils continued to decline, with a slight increase in social inventory and an expansion in the degree of destocking of plant inventory. On the supply side, the output of hot coils decreased slightly compared with last week. On the demand side, the price of hot coils rose strongly this week, stimulating speculative demand to warm up, but the terminal fatigue was still evident, and the transaction was weak.

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