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

Published: Jan 9, 2025 10:32

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

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.

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.

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.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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