Decline in HRC Inventory Expanded amid Low Supply Pressure and Recovery of Demand

SHANGHAI, Mar 21 (SMM) - The total HRC inventory last week dropped 4.9% on the week, with social inventory falling 5.7% and in-plant inventory at steel mills contracting 2.2%. The decline in the total inventory, in-plant inventory and social inventory further accelerated. Last week, the demand from terminals were suppressed by poor profits and rising HRC prices. Later, the eased supply pressure and the increase in terminal demand drove the HRC inventory to decline. Among them, the inventory in south China led the decrease. In the follow-up stage, although the HRC supply may pick up in late March, the HRC inventory will continue to be reduced this week.