[SMM HRC Weekly Balance] Production Rose Significantly WoW, HRC Inventory Increased This Week

01

HRC Production Increased Significantly WoW

This week, some steel mills in north and east China resumed operations after completing rolling line and blast furnace maintenance. Coupled with the increase in domestic steel mills' overall HRC production schedule for January, production saw a significant WoW increase this week.

02

HRC Social Inventory Accumulated WoW

This week, SMM statistics showed HRC social inventory at 2.9575 million mt across 86 warehouses nationwide (large sample), up 47,500 mt or 1.63% WoW, and down 12.21% YoY based on the lunar calendar.

This week, national social inventory began to build up. By region, inventory buildup in south and east China was higher than in north, northeast, and central China.

03

HRC In-Plant Inventory Increased WoW

This week, steel mills' in-plant inventory saw a slight WoW increase.

Note:

1. SMM's weekly HRC production/apparent demand/inventory data are based on a sample of 40 steel mills and 86 mainstream market warehouses nationwide.

2. As of October 31, 2024, SMM's weekly HRC production and steel mill inventory data covered 85% of the national HRC capacity.

3. SMM conducts surveys every Wednesday and releases the data on Thursday mornings.