SHANGHAI, Sep 6 (SMM) – Social inventories of hot-rolled coil (HRC) in China declined slower this week, while stocks across steelmakers rose, showed an SMM survey.
SMM data showed that HRC stocks across social warehouses fell for a fourth week in a row, losing 0.8% from a week earlier to stand at 2.37 million mt as of Thursday September 5. Social stocks rose 8.3% from a year ago.
In the week ended August 29, HRC social stocks decreased by 1.8%.
In-plant HRC inventories, meanwhile, gained 3.8% week on week and 2% year on year to 1.01 million mt. In the past five weeks, stocks across steelmakers grew for four weeks.
Overall HRC stocks across social and in-plant warehouses in China came in at 3.38 million mt as of September 5, up 0.5% from a week ago and 6.4% from a year ago.
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