SMM HRC Weekly Balance: Production May Gradually Increase, Social Inventory Decline Narrowed This Week

• SMM HRC Weekly Balance

• This week, HRC production fluctuated rangebound.

This week, steel mills in south China resumed production after maintenance, while some mills in the north continued maintenance, resulting in a rangebound fluctuation in HRC production MoM.

• This week, the decline in HRC social inventory narrowed.

This week, the SMM survey of 86 warehouses (large sample) nationwide showed HRC social inventory at 4.0818 million mt, down 98,800 mt MoM, a decrease of 2.36% MoM, and down 6.09% YoY. This week, national social inventory continued to decline, but the rate of decline narrowed. By region, the decline in the south China market was significantly higher than in east and north China markets, while central and north-east China saw a slight inventory buildup. [SMM Steel]

• This week, HRC in-plant inventory declined MoM.

This week, steel mills accelerated shipments, and in-plant inventory continued to decline.