SMM Steel reported on October 26th that the total inventory of hot rol

Published: Oct 26, 2023 16:57

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SMM Steel reported on October 26th that the total inventory of hot rolled coils was 3.6554 million tons this week, down by 121,800 tons from last week, a decrease of 3.22% year-on-year and an increase of 27.81%. The total inventory, social inventory and plant inventory of hot coils have all maintained a downward trend for three consecutive weeks, and the rate of destocking has expanded. On the supply side, the output of hot coils continued to decline this week. On the demand side, the price of hot coils showed a "V" shape this week, and the high price stimulated the terminal demand in stages, which overall led to the continued destocking of social inventory.

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