SMM HRC Weekly Balance: Production Fluctuated Rangebound This Week, Inventory Decline Expanded.

Published: Mar 27, 2025 10:54

Save

This week, the SMM survey of 86 warehouses (large sample) nationwide showed HRC social inventory at 4.1936 million mt, down 257,400 mt WoW, a decrease of 5.78% WoW, and down 4.06% YoY on a lunar calendar basis. National social inventory continued to decline this week, with the rate of decrease expanding. By region, the declines in east China, south China, and north China were greater than those in central China and north-east China. [SMM Steel]

SMM HRC Weekly Balance

This week, HRC production fluctuated rangebound.

This week, some steel mills in north and south China were still under maintenance, and HRC production fluctuated rangebound MoM.

This week, HRC social inventory continued to decline.

This week, SMM's survey of 86 warehouses (large sample) nationwide showed HRC social inventory at 4.1936 million mt, down 257,400 mt MoM, a decrease of 5.78% MoM, and down 4.06% YoY on a lunar calendar basis. This week, national social inventory continued to decline, with the rate of decline expanding. By region, the declines in east, south, and north China were greater than those in central and north-east China. [SMM Steel]

This week, HRC in-plant inventory declined MoM.

This week, steel mill inventory continued to decline.

Note:

1. SMM's weekly HRC production/apparent demand/inventory data is 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 covered 85% of national HRC capacity.

3. SMM conducts surveys every Wednesday and releases the results every Thursday morning.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 18:30

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41