[SMM HRC Weekly Balance] HRC apparent demand declined due to weak season impact

Published: Jun 27, 2024 14:53

Source: SMM

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HRC production at 41 steel mills surveyed by SMM reached 3.4967 million mt in the week ending June 27, down 10,800 mt.

HRC production slightly declined WoW

HRC production at 41 steel mills surveyed by SMM reached 3.4967 million mt in the week ending June 27, down 10,800 mt. Looking ahead, there are no new steel mill maintenance plans in the short term, and HRC production is expected to fluctuate within a small range.

HRC social inventory increased WoW

According to SMM statistics, the HRC social inventory in 86 warehouses nationwide (large sample) was 3.933 million mt this week, up 27,000 mt WoW, up 0.69% WoW, and up 19.13% YoY. By region, except for inventory decreases in the south China and central China markets, the east China, north China, and North-east China markets all showed inventory increases.

In-factory inventory of HRC slightly decreased

This week, the transfer of in-factory inventory to social inventory accelerated, and steel mill inventory slightly decreased.

As of January 1, 2024, SMM’s weekly HRC production and in-plant inventory covered 81% of China’s HRC capacity.

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